Surgent's Max the Tax: Schedule E

Overview

You just received an email from Roni, a prospective new client. He owns several properties under the business name Roni’s Real Rentals LLC and wants help minimizing rental income and maximizing deductions that offset the rental income. You will interview Roni and visit his two properties to gain a better understanding of his situation. Advise Roni by providing him good and relevant ideas, and he will ask you to be his new tax accountant.

Highlights

• Business development
• Types of properties
• Rental property use 
• Rental expenses
• Deductible expenses
• Repairs and maintenance
• Capitalization of expenses
• Depreciation
• Accounting methods
• Treatment of security deposits

Prerequisites

Basic knowledge of tax accounting principles

Designed For

Tax practitioners desiring an interactive approach to learn key tax knowledge

Objectives

• Understand what qualifies as supplemental / rental income on Schedule E  
•  Understand what qualifies as expenses to report on Schedule E 

Preparation

None