199A - Is a Rental a Trade or Business (Case Law & discusses Safe Harbor) (Completed)
Date: Tuesday, April 30, 2024
Instructor: A.J. Reynolds
| Begin Time: |
12:00pm Pacific Time
1:00pm Mountain Time
2:00pm Central Time
3:00pm Eastern Time |
| CPE Credit: |
1 hour for CPAs
1 hour Federal Tax Related for EAs and OTRPs
1 hour Federal Tax Law for CTEC |
|
NOTE: Go to My Professional Profile in your CCH CPELink account settings to ensure your name, and PTIN number; matches your PTIN card
Are you not yet convinced that a simple single-family rental qualifies for QBI? This class will investigate what is a Trade or Business under 199A. An exploration will be conducted if rental properties can be a Trade or Business under 199A; all while giving supporting case law for and against. We will discover that to be a trade or business, a taxpayer must be involved with continuity, regularity, primary purpose for profit, and is not necessarily based on material participation. Revenue Procedure 2019-38, Final Safe Harbor Rules for Real Estate activities will be critique.
Who Should Attend
All Tax professionals with Clients owning Rental Properties
Topics Covered
- § 199A & what is a Trade or Business
- Interpret case law on trade or business
- FAQs regarding this topic
- Safe Harbor Revenue Procedure 2019-38
- Substantial Authority
Learning Objectives
- Distinguish if a piece of rental property qualify for § 199A deduction
- Determine if the rental property is a trade or business
- Understand Revenue Procedure 2019-38
Level
Basic
Instructional Method
Group: Internet-based
NASBA Field of Study
Taxes (1 hour)
Program Prerequisites
None
Advance Preparation
None
