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Passive Activities and Rental Real Estate Income Tax Issues 4172531B
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Get up to speed with the complex passive activity loss (PAL) rules that apply to certain investments in trades or businesses and rental activities. Take an in-depth look at the detailed tax law and regulations applicable to passive activities under IRC Sec. 469 and how and when the 3.8% net investment income tax under Sec. 1411 applies. Each attendee will receive a comprehensive passive activity reference manual with numerous practice aids and real-world examples.

 Export to Your Calendar 8/1/2017
When: 9:30 AM to 5:00 PM
Where: Webcast
CALCPA
4172531B
United States
Presenter: J Patrick Garverick, CPA, MT, CFP
Contact: April Deneault
801-466-10249


Online registration is available until: 8/1/2017
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Curriculums:   Individual Tax Planning and Return Preparation,Business and Corporate Taxation,Partnerships and LLCs

NASBA Credit Category:  Taxes

CPE Hours:  8

Description

Get up to speed with the complex passive activity loss (PAL) rules that apply to certain investments in trades or businesses and rental activities. Take an in-depth look at the detailed tax law and regulations applicable to passive activities under IRC Sec. 469 and how and when the 3.8% net investment income tax under Sec. 1411 applies. Each attendee will receive a comprehensive passive activity reference manual with numerous practice aids and real-world examples.

Note: At the request of the author, course materials for this program cannot be printed. Please save the materials to your desktop prior to the event. Adobe Reader Version XI is a prerequisite for downloading materials. A printed course book can be purchased for $50 (including shipping and handling). Choose the option to purchase the book when registering for the course. Book purchase must be made five or more business days prior to the presentation date to ensure it arrives in time. The book will be shipped directly to your preferred address. The eBook will still be accessible via “My Events” on calcpa.org.  

Materials are provided as an ebook



Major Subjects

  • How the PAL rules apply to rental real estate activities and investments in S corporations and partnerships.
  • Definition of an activity and the activity grouping and disclosure rules.
  • Real estate professional exception to the PAL rules for investments in non-passive rentals.
  • Special $25,000 loss allowance for rental real estate with active participation.
  • Material participation safe harbor rules.
  • Events that trigger suspended PALs.
  • Limitations on tax credits generated by passive activities.
  • Special rules that re-characterize passive income to non-passive income.

Objectives

  • Identify activities subject to the PAL rules and the exceptions to them, including those for certain real estate professionals.
  • Define a passive activity, rental and trade or business under IRC Sec. 469.
  • Outline seven ways to materially participate in an activity and six exceptions to the definition of a rental activity.
  • Calculate the passive activity income and losses allowed and the tax ramifications of passive activity dispositions.
  • Recognize what passive activity investments are potentially subject to the 3.8% net investment income tax under IRC Sec. 1411.

Level:  Intermediate

Designed For

Tax professionals who need an in-depth training course on the passive activity loss rules and how they apply to certain investments in trades or businesses and rental activities.

Advanced Prep:

None.

Prerequisite

General knowledge of individual/business income taxation and how they relate to passive activity laws.

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