Schedule E – Supplemental Income and Loss

This intermediate course focuses on Schedule E of Form 1040, which is used to report supplemental income. It includes how to report income or loss from rental real estate, royalties, partnerships, S corporations, estates, trusts, and residual interests in real estate mortgage investment conduits (REMICs).

At the end of this course, the student will be able to do the following:

  • Calculate Income or Loss from Rental Real Estate and Royalties
  • Calculate Income or Loss from Partnerships, S Corporations, Estates, and Trusts
  • Calculate Income or Loss from REMICs and Other Issues

Learning Objectives

  • Identify factors required to meet the safe harbor test to treat rental real estate as a trade or business solely for the purpose of the qualified business income deduction
  • Recognize how rental income is treated
  • Describe conditions of eligibility to qualify as a "small taxpayer" under the safe harbor election to deduct certain improvement costs
  • Describe the basis limitation for S corporation shareholders deducting amounts passed through to them
  • Identify correct statements about unreimbursed expenses for partners and S corporation shareholders
  • Identify how an owner of rental property can treat each of the following improvements as a Section 179 deduction
  • Describe possible limitations on deducting the loss passed through a partner

Investment $47

2 C.E. Hours

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