Understanding Schedule E and Forms 8825 and 8582

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Description

Understanding Schedule E and Forms 8825 and 8582
IRS Program #: X9QQU-T-00970-23-O
CTEC #: 6257-CE-0148
Speaker: Jane Ryder, EA, CPA

Real estate rentals base their reporting on either Schedule E (Forms 1040 and 1041) and Form 8825 (Forms 1065 and 1120S). How this income flows through the return and whether it is affected by Form 85852 is based on the passive loss rules. These forms working together can suspend current year losses or release prior year suspensions. This session will focus on the mechanics and flow of the forms and the general application of the law.

Learning Objectives:

Understand the importance of Fair Rental Value Days and Personal Days and their affect on the activity.
Understand why the Property Type is important and the impact to the tax computation.
Identify why losses will be suspended and how they will be released.

Contributors

Jane Ryder, EA, CPA

Jane Ryder, EA, CPA, has been providing tax preparation, accounting services, and tax collection resolution services since 1980. She runs her San Diego CPA firm, Brass Tax Ryder Professional Group, Inc., and writes and speaks on many income taxes, business compliance, and accounting topics. She received a BS in Business Administration (Accounting) from SDSU and is currently licensed with the California State Board of Accountancy and with the Internal Revenue Service as an enrolled agent.

Jane has a business-centric practice, preparing and consulting on tax, accounting, and compliance matters for Corporations, S-corporations, LLC's, Partnerships, and Trusts. She also specializes in IRS and state agencies collection problems, payment plans, audit representation, audit appeals, offers in compromise, and other compliance related issues.