Tax Strategies for Passive Activities (Completed)

Join expert Greg White, CPA, as he walks you through the latest techniques for minimizing the impact of the passive activity rules. We’ll look at different methods of satisfying the “material participation” rules, and what recent case law tells us about the how these rules work. We’ll also cover tactics to use the IRS’s “grouping rules” to increase nonpassive losses – and almost as important, when not to group activities.

Who Should Attend
CPAs, EAs, tax staff and those who have some experience with tax preparation.

Topics Covered

• Methods of satisfying the "material participation" rules
• "Grouping strategies" — when to group, and when not to group
• Minimizing the impact of the passive activity rules
• What it takes to be a "real estate professional"
• Whether your clients should make the election to "aggregate" rental properties

Learning Objectives

• Describe the proper method to notify the IRS that your client is grouping activities
• Identify and apply the seven methods of "materially participation"
• Identify when clients qualify as real estate professionals and recognize the proper circumstances to aggregate rental properties

Level
Basic

Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
None

Advance Preparation
None