199A - Is a Rental a Trade or Business (Case Law & discusses Safe Harbor) (Completed)

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