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myCPE

Navigating the IRS: IRC §280A(g) Explained 2 Credits

Aug 07, 2024, 01:00 PM ET

Navigating the IRS: IRC §280A(g) Explained 2 Credits

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Aug 07, 2024, 01:00 PM ET

Learning Objective

  • To provide an overview of the income and deductions for rental property.
  • To explain the treatment of expenses on a rental property that is personally used periodically.
  • To discuss limited-use rental property.
  • To outline reporting rules for rental income and deductions.

Course Overview

Ever wondered how to make the IRS work in your favor when renting a dwelling unit? Join our CE Tax Webinar as we decode IRC §280A(g) and unveil the secrets to maximize your tax benefits.

The Internal Revenue Code (IRC) §280A(g) holds valuable insights and rules for taxpayers who rent a dwelling unit that they also occasionally use during the taxable year. In these situations, it becomes crucial to ascertain the percentage of days associated with rental income, personal use, and non-rental/personal usage. These determinations are essential for accurately calculating deductible expenses and deciding which tax form to use when reporting these expenses.

But that's not all – the IRC also introduces a special rule for taxpayers who rent their residence for fewer than 15 days during the year. This seemingly simple provision comes with its own set of intricacies and potential pitfalls.

Join this CE Tax Webinar as we delve deep into the complexities of IRC §280A(g). Our expert presenter Tony Curatola will break down the rules, guide you through the calculations, and highlight common pitfalls to avoid. By the end of this session, you'll have a clear understanding of how to navigate these regulations, ensuring you make informed decisions and maximize your tax benefits.

Major Topics Covered:

  • Overview of the income and deductions for rental property
  • The treatment of expenses on a rental property that is personally used periodically
  • Limited-use rental property
  • Outline reporting rules for rental income and deductions

Don't miss this opportunity to master the nuances of IRC §280A(g) and gain the knowledge needed to confidently handle dwelling unit rentals on your tax returns. Sign up now and stay ahead of the curve in your tax planning and reporting endeavors.

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Additional Information

Credits

2

Course Level

Basic

Instructional Method

QAS Self Study
Group Internet Based

Pre-requisites

None

Advance Preparation

None

IRS APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering aintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors.

About Instructor

Tony Curatola
Tony Curatola

Joseph F. Ford Professor of Acct’g & Tax, Drexel University

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Dr. Curatola is the Joseph F. Ford Professor of Accounting at Drexel University in Philadelphia. He is the Tax Column Editor for Strategic Finance since 1992. He has served as the editor of the Journal of Legal Tax Research and currently serves on the editorial review board of several journals, and has held a variety of leadership positions, including current national service with the Institute of Management Accountants. He has published over 250 articles in journals including Journal of Financial Services Professionals, Journal of the American Taxation Association, Journal of Forensic & Investigative Accounting, Oil, Gas, & Energy Quarterly, and Tax Notes to name a few. Dr. Curatola was a co-editor on IRA Answer Book by Wolters Kluwer and author of the EA Review course for Surgent Publishers. Dr. Curatola externally funded research findings have appeared in media such as Forbes Magazine, The Washington Post, The Wall Street Journal, The New York Times, and other media outlets.

On Demand FAQs

What is Self Study (QAS)?

Self Study QAS (Quality Assurance Service) is a NASBA and other regulatory bodies approved program designed for Professionals to complete their Continuing Professional Education credits through self-paced, interactive courses that meet the highest standards of quality and compliance. We are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn CPE credits through self-study?

To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.

Are the self-study courses approved by NASBA and other regulatory bodies?

Yes, all our self-study courses are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the rigorous standards for quality and educational content set by these organizations.

What are the requirements to maintain compliance with self-study courses?

To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.

How can I access my course completion certificates?

After successfully completing a self-study course and passing the assessments, you can access and download your course completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Live Webinar FAQs

What is a Live Webinar Group Internet-Based Credit?

A Live Webinar Group Internet-Based Credit is an interactive, real-time online seminar where professionals can earn Continuing Education credits by participating in live sessions led by experts in various fields. These sessions meet the standards set by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn credits through live webinars?

To earn credits, you must attend the entire live webinar, actively participate in any polls or questions, and complete any required evaluations or assessments. Credits are awarded based on your attendance and participation in the live session.

Are the live webinars approved by NASBA and other regulatory bodies?

Yes, all our live webinars are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the high standards for quality, interactivity, and educational content set by these organizations.

What are the requirements to maintain compliance with live webinar courses?

To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.

How can I access my webinar completion certificates?

After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Ratings and Review

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Owen Mccafferty
Owen Mccafferty, CPA (US)

Professor Curatola offered a very thorough presentation in the complexities of rental properties, disallowance of certain expenses with business applications of personal/independent use of properties in rent, etc. Good presentation. We face these issues with most returns. Thank you

YL

Yvonne Loewke, EA

This was a really great refresher course and will assist with my current position. The slides will make a good go to resource

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