Rental Income and Expenses – 2018 Law – Self-Study (No Videos)
Special rules govern reporting of rental income and expenses on Schedule E. This course covers the types of income which are reported on Schedule E, as well as what expenses are deductible and how they should be reported.
- Definition of rental income
- Rental and personal use rules
- Line-by-line discussion of rules applying to deducting expenses on Schedule E
- Depreciation rules
- Rules for dividing expenses when there is partial rental of property held for personal use
- Personal use of vacation home or dwelling unit
- Tax court method for allocation of mortgage interest and real estate taxes
- Rental of personal property
At the conclusion of this course you should be able to:
- Prepare Schedule E Supplemental Income and Loss
- Distinguish between deductible and nondeductible rental expenses
- Determine if form 1099-MISC should be issued by a landlord
- Identify the number of fair rental days a property was rented
- Identify when Form 4562 must be completed with respect to a rental property
- Allocate expenses between personal and rental use with respect to shared use of a rental property between landlord and tenant
- Describe the difference between the “Tax Court” method and the “IRS Method” for dividing expenses between rental and personal use of a vacation rental dwelling
- Determine if any rental losses are deductible under the active participation rules
- Describe how to report income and expenses for casual rental of personal property
Self-Study (No Videos)
2018 Tax Law
Ends: Wednesday, March 3, 2021 11:59 PM (PST)
Started: Tuesday, March 3, 2020
Ends: Thursday, March 3, 2022 11:59 PM (PST)
|IRS (Federal Tax Law)||4 Hours|
|Oregon Tax Board||4 Hours|
Field of Study
Basic tax knowledge
Self-study (No Videos)
IRS Federal Program Number
Meet Your Instructor
April Gutierrez, Enrolled Agent:
Known for her entertaining speaking style and ability to make a complex subject easy to understand, April is frequently invited to speak to business groups and news media on tax-related topics. She has a B.A. in Communication Studies from Murdoch University in Perth, Australia. She obtained her Oregon LTC in 1995.April resides in Portland, Oregon, with her husband Jess and their two sons. Her pastimes include gardening, travel, and playtime with her Arabian horse, Fancy.
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Basic Tax Law
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Prerequisites & Advance Preparation
Students intending to write the Oregon State Tax Exam, must be at least 18 years of age, and have High School Diploma or GED. Students using our self-paced internet based program should prepare for classes by downloading and printing course materials. For more information including detailed course descriptions and learning objectives, view the details of each course, located on Pacific Northwest Tax School’s catalog pages at: https://www.pnwtaxschool.com/list-of-all-courses/
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