Per the IRS Education Provider Standards this course must be COMPLETED by 12/31/2028 to receive credits. NOTE: Go to My Professional Profile in your CCH CPELink account settings to ensure your name, and PTIN number; matches your PTIN card
This course focuses on Schedule E of Form 1040, which is used to report supplemental income.
Publication Date: June 2025
Topics Covered
- Schedule E Attached to Return
- Other Forms and Schedules
- Rental Real Estate
- Income or Loss from Rental Real Estate and Royalties
- Travel and Cleaning Expenses
- Insurance and Commissions
- Legal and Professional Fees
- Management fees and Interest Expenses
- Bonus Depreciation
- Other Expenses and Total Expenses
- Overview of Parts II and III of Schedule E
- Overview of Passive Activity Loss Limitation (PAL)
- Part IV of Schedule E
- Income or Loss from REMICs
- Part V of Schedule E
Learning Objectives
- Recognize how rental income and expenses are treated
- Determine whether to file Schedule C or Schedule E to report rental income and expenses
- Recognize how royalty income and expenses are treated
- Identify factors required to meet the safe harbor test to treat rental real estate as a trade or business solely for the purpose of the qualified business income deduction
- Describe conditions of eligibility to qualify as a "small taxpayer" under the safe harbor election to deduct certain improvement costs
- Identify correct statements about unreimbursed expenses for partners and S corporation shareholders
- Describe possible limitations on deducting a loss passed through a partner, S corporation shareholder, or beneficiary of a trust or estate
- Describe how the at-risk and passive activity loss rules apply to partners and S corporation shareholders
- Identify other forms and schedules filed in relation to Schedule E
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Taxes (1 hour)
Program Prerequisites
none
Advance Preparation
None
Instructor
Barbara Weltman
Barbara Weltman, JD, has written extensively on a wide variety of tax, small business, and financial planning matters for both professionals and the general public. The Wall Street Journal called her “the guru of small business taxes.” She is the author of a number of self-study programs for CCH. She is publisher of Big Ideas for Small Business® and Idea of the Day® found at www.BigIdeasForSmallBusiness.com and is a guest blogger for the SCORE and many other sites. Ms. Weltman is a graduate of Brooklyn Law School.