Residential Rental Real Estate Reporting for Individual Taxpayers  

As a tax professional, you may encounter clients who own dwellings with both rental and personal use. The various levels of use can lead to different tax treatments, making it crucial for professionals to understand the nuances of reporting income and expenses related to these properties. In this course, we will explore the tax implications of dwellings with mixed rental and personal use and examine the statutory obstacles that taxpayers must overcome to deduct losses from rental activities. These obstacles include the vacation home rules, hobby loss rules, at-risk rules, and passive activity loss rules. By the end of this course, you will have a comprehensive understanding of how to navigate these complex tax situations and provide valuable guidance to your clients.