Whacky Rentals – Rental Arrangements with a Twist


Tuesday, June 13, 2023 · 2:00 – 3:40 PM ET

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Continuing Education

CPE Program Knowledge Level: Overview
2 CPE Credit; NO prerequisites or advance preparation
CTEC Course #: 3022-CE-0159
IRS/RPO Approved Program
#7ZBUJ-T-00110-23-O (Online/Group) Live (Group-Internet Based)
#7ZBUJ-T-00110-23-S (QAS Self Study) Archive
Federal Tax Law (2 Hours)

Program Content

This online learning program, presented as a live webcast, will be also archived for QAS Self Study. The program will be available for viewing for 12 months after the live webcast. A panel of IRS and industry experts will present the content during a live, interactive discussion, where participant questions can be submitted. Questions will be answered live on the program or posted on the Resources page.

The program, through a lively round-table discussion and real time interaction with the audience, examines the tax treatment of various types of rental agreements. The program will focus on the concept of rent and the deductions that arise from engaging in rental activities. Panelists also will examine how individual taxpayers should properly report rental income. The panel will also explore how individuals should properly report income derived from the rental of a personal residence.

By the end of the program, participants will have a practical understanding, through accurate, current, and effectively designed communications, of the tax treatment of the income derived from many different types of rental agreements.

Program Learning Objectives

  1. Identify the tax treatment of the various items that may be treated as rental income.
  2. Identify the deductible expenses that may be incurred in the production of rental income.
  3. Identify the proper reporting methods for income derived by individuals from rental activities.
  4. Identify the particular tax treatment of income derived from the full, partial, or part-time rental of a personal residence, including vacation homes.

Program Outline

  • Rental Income
    • Rent vs. Deposit
    • Percentage Rents
    • Payment of Landlord's Expenses
    • Property Transactions
    • Advance Rents
    • Assignments and Loans
    • Graduated Rents
    • Deferred or Stepped Rental Arrangements
    • Lease Cancellation Payments
    • Related Parties
    • NNN Payments
    • Self Rental Rules

  • Rental Expenses
    • Normal Property Expenses
    • Depreciation
    • Personal Use of Property
    • Limits on Rental Losses
    • Repair Regs

  • Individual Reporting Rental Income
    • Schedule E
    • Schedule C
    • Net Investment Income Tax
    • Limits on Rental Losses
    • Real Estate Professional

  • Rental of a Home
    • Residential Rentals in General
    • Converting Home to Rental Property
    • Rent with Option to Buy
    • Renting Part of a Home
    • Renting The Entire Home Part of the Time
    • Renting a Vacation Home
    • Renting a Mixed-Use Residence

Panelists

Moderator

Alan Pinck, EA
A. Pinck & Associates

Alan Pinck is an Enrolled Agent with over 30 years of tax preparation experience in the San Francisco Bay Area. He has built a practice specializing in individual, small business tax preparation and audit representation. You have seen Alan presenting at NTPI events, CSEA Super Seminar, Spidell Publishing as well as a variety of other presentations for tax groups and small business associations. Having represented thousands of tax returns in audit, Alan has obtained tremendous insight of the audit process as well as knowledge on a wide variety of tax issues.

IRS Panelist

Coming soon!

Industry Panelists

Coming soon!

Content Consultant

David F. Windish, J.D., LL.M
Content Consultant

David F. Windish, J.D., LL.M. in taxation, is a tax attorney and consultant. He has served as an instructor of tax-advantaged investments at the New York Institute of Finance; an Instructor of business law at the U.S. Merchant Marine Academy, Kings Point, N.Y.; and an adjunct professor at George Mason University, Fairfax, Va. He has also served as executive editor for Tax Analysts; managing editor for Business Strategies, published by CCH; and senior editor for the Institute for Business Planning.

Mr. Windish is the author of Practical Guide to Real Estate Taxation, published by CCH and currently going into its sixth edition. Earlier works include Tax Advantaged Investments and Investor's Guide to Limited Partnerships, both published by the New York Institute of Finance. Through the Center for Video Education, he authored continuing education courses dealing with real estate and closely held corporations. Those courses included readings, case studies, and videotape segments.

Mr. Windish is a graduate of Rutgers University Law School and the New York University School of Law, Graduate Division. He has been heard as a guest speaker at professional meetings and seminars and on popular radio programs.

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