Sec. 199A Cutting Edge Tax Strategies for Rental Real Estate (Completed)

NOTE: Go to My Professional Profile in your CCH CPELink account settings to ensure your name, and PTIN number; matches your PTIN card

We’ll take a comprehensive, deep dive into which rentals qualify (and which might not qualify) for the 20% §199A QBID. We’ll also cover how to compute the “property” factor that can limit the QBID for higher income taxpayers. We’ll cover in depth:

Qualification for most rental property Qualification of land leases Qualification of triple net leases How to protect yourself if you’re filing returns taking the QBID on land leases or triple net leases. Why not all triple net leases are alike. Requirements of the IRS’s “safe harbor” for rental properties (Notice 2019-7).

Who Should Attend
New and experienced CPA’s who practice in the tax area or who need a better understanding of the tax law for other areas of practice.

Topics Covered

• Qualification of rental property for the QBID
• Qualification of land leases
• IRS safe harbor for rental property

Learning Objectives

• Identify case law and administrative law support for taking the QBID on triple net leases
• Apply the requirements of the IRS's "safe harbor" for rental property
• Complete the IRS form that reduces the risk of preparer penalties
• Identify special risk issues for taxpayers who reside in the Second Circuit (Connecticut, Vermont and New York)

Level
Basic

Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
None

Advance Preparation
None