Income — Rental and Schedules K-1

Depreciation

• Introduction
  • Welcome!
  • Objectives
• Schedule K-1
  • What is reported on Schedule K-1?
  • How and where can income be reported?
  • Schedule K-1 (Form 1041)
  • Schedule K-1 (Form 1065 and Form 1120S)
• Rental Income and Expenses
  • Rental Income
  • Rental Expenses
  • Topic Activity
• Depreciation
  • Factors Affecting Depreciation
  • Basis
  • MACRS Method of Depreciation
  • Discussing Depreciation
• Special Allocations
  • Rental vs. Personal Use
  • Personal Use of Rental Property
  • Topic Summary
  • Topic Activity
• Rental Loss
  • Passive Income vs. Active Participation
  • Reporting Rental Loss
  • Topic Activity
• Out of Scope
  • Out of Scope Situations for VITA/TCE
• Summary and Exercises
  • Summary
  • Practice Lab
• Conclusion
  • Conclusion

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