Short-Term Rentals

Short-Term Rentals: Comprehensive Strategy and Reporting Guidance

Original price was: $129.00.Current price is: $89.00.

Assuming that short-term rentals are treated the same way as long-term rentals when preparing tax returns may be detrimental to your clients’ tax situation. Taxpayers and tax professionals are receiving misinformation everyday about short-term rentals, so our goal is to dispel the myths and confusion surrounding this topic. The course will cover all applicable rules related to short-term rental reporting for tax purposes, including:

  • Where the activity should be reported on the return
  • The passive activity limitations and treating short-term rentals as nonpassive
  • Short-term rental investment partnerships
  • Depreciable life of the rental and the ability to apply Section 179 or bonus depreciation to improvements
  • Net Investment Income Tax, QBI, and Excess Business Loss Limitations
  • Detailed due diligence templates to utilize when working with clients

This course is not just about theory. It’s about practical application. We’ll show you how to make short-term rental losses nonpassive and how to apply the rules to allow taxpayers to offset their other nonpassive income by hundreds of thousands of dollars. You’ll walk away with actionable knowledge that you can immediately apply in your practice.

Credit type: 2 hours of federal tax law

Course ID:
IRS Program #: UD2VU-T-00160-24-S
CTEC Course #: 1008-CE-1186