Combining the real-life experience of working with numerous CPA firms and tax professionals around the country with comprehensive easy-to-read materials containing pertinent examples and illustrations, this powerful course will provide you with the most recent and up-to-date tax changes. You'll receive answers to all your tax questions in an accessible PDF manual covering all of the latest federal legislative issues with hyperlinks to all of the source documents cited in the text should you desire additional detailed information on any particular item. Written by renowned tax expert, John J. Connors, JD, CPA, LLM, this course covers all the bases: recent TCJA changes, impact of passive loss rules and 3.8% Medicare surtax on rental properties, interest expense incurred to acquire real estate and the Sec. 163(j) election, best type of entity to hold real estate, as well as a myriad of common consulting issues taxpayers encounter with regard to real estate investments.

Click here to view a detailed table of contents.

Topics & Learning Objectives Include:

• “Electing real estate trades or businesses” & avoiding Sec. 163(j) limit on mortgage interest expense - Is it worth it?
• When does rental income count as QBI?
• When are rents reclassified as additional SSTB income?
• When should “aggregation election” be made for Sec. 199A purposes?
• When should “grouping election” be made for Sec. 469 purposes?
• Should investors hold real estate in REITs v. outright for Sec. 199A purposes?
• Taking Sec. 179 on “qualified improvement property” and other real estate assets
• Under what circumstances can Sec. 179 be taken on HVAC units? -
• What types of real estate qualify for bonus depreciation?
• Have these rapid write-offs resurrected the Sec. 1250 depreciation recapture rules on commercial real estate?
• Using Form 3115 to catch up on missed depreciation deductions - Handling repair expenses for rental properties, including the use of the increased “de minimis” exception
• Impact of PAL Rules & 3.8% Medicare Surtax on real estate investments -
• When grouping elections should be made to avoid the PAL rules, as well as the 3.8% Medicare surtax
• Common misunderstandings persist with the passive loss rules and rental properties
• Exceptions for “real estate professionals” and grouping of “self-rental activities”
• Taking K-1 rental losses - impact of at-risk rules and “qualified nonrecourse real property indebtedness”
• How death, divorce or second marriages can result in restrictions on suspended PAL loss carryovers
• Form 982 and COD income from forgiveness of mortgage debt
• Increasing values of real estate holdings making LKEs and cost seg studies more popular
• Impact of “non-qualified use rules” on conversion of rental/vacation homes to principal residences
• Using Sec. 754 election to step up inside basis of real estate held by LLCs; impact on QBIA for Sec. 199A
• Interest expense tracing rules and real estate mortgages
• Special rules for qualified second residences and home offices
• Distinguishing real estate developers v. mere investors - inventory v. capital assets
• All of these issues will be examined, along with numerous client examples and planning tips.

Prof. John Connors is one of the most knowledgeable tax lecturers in the nation. He has the ability to simplify the most complex tax rules. Bring in all your tax questions and get a CORRECT answer.