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TAX2214

Real Estate Tax: Taxation of Real Estate Professionals

Date
June 9, 2022
$4900
Standard Price
This product is also available as part of the following products:
Thumbnail for AICPA & CIMA ENGAGE 2022
This includes sessions from AICPA & CIMA ENGAGE 2022:
Thumbnail for Tax Strategies for the High-Income Individual (as part of AICPA & CIMA ENGAGE 2022)
This includes sessions from the conference: Tax Strategies for the High-Income Individual (as part of AICPA & CIMA ENGAGE 2022)

A special passive activity loss limitation rule allows so-called real estate professionals (REP) to apply the material participation tests to their rental real estate, potentially moving these rentals out of the per se passive activity designation. As evidenced by a few court cases on this topic each year, this complex provision is often misinterpreted. The new regulations under section 163(j), a TCJA provision that uses a term from section 469(c)(7), added new regulations to Reg. 1.469-9 that clarify the REP definition. This presentation explains the REP rule, traps for the unwary, the significance of recent regulations, and planning and due diligence considerations.

Learning Objectives

  • Identify the benefit real estate professionals might obtain for their rental real estate activities.
  • Recognize how regulations issued in 2020 and 2021 clarify terms used at §469(c)(7).
  • Apply planning and due diligence considerations to the §469(c)(7) real estate professional rule.

Speaker

Speaker Image for Annette Nellen
Professor, MST Program Director, San Jose State University

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