Rental Real Estate's Influence on Tangent Code Sections

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Description

Rental Real Estate's Influence on Tangent Code Sections
IRS Program #: X9QQU-T-00973-23-O
CTEC #: 6257-CE-0151
Speaker: Jane Ryder, EA, CPA

The treatment and character of one’s rental real estate have flow-over effect on other Code sections impacting tax liability. You have to consider whether the rentals qualify for Qualified Business Income Deduction, subject to Net Investment Income Tax, or subject to Self-Employment tax. This session will also address the impact of certain transactions including Like-kind Exchanges (forward and reverse exchanges), transfers incident to divorce or death, and transfers by gift. The session will focus on giving the practitioner the requisite tools to address these complex situations.

Learning Objectives:

Determine whether the rental activity is included in QBI.

Determine if the rental activity is includable in NII.
Understand why in most situations the activity is not subject to SE Tax.
Understand the core requirements and computations surrounding a forward or reverse like-kind exchange under IRC 1031.
Identify requisite adjustments when a property is transferred in a divorce, gift, or due to death including the impact on depreciable basis and carryovers in both community property and non-community property states.

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.