Rental Real Estate Income Tax Reporting: Getting It Done Right

If you are a real estate investor or receive real estate income, Schedule E will play into your individual tax filings. Best practice dictates you examine the multifaceted dynamics underlying the federal taxation of rental real estate, focusing on nuances that can be overlooked by real estate investors seeking return on investment based largely on rental income, with the benefit of depreciation and other deductions that reduce taxation on income from these properties.

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Related Content 

• Real Estate Depreciation Deductions and Tax Credits
  See how depreciation and tax credits are important planning issues with real estate since they typically drive the real estate deal. Without these tax savings, investors would not invest in real estate and projects simply would not get off the ground.

• Taxation Fundamentals for Partnerships and LLCs
  Learn how partnerships are useful when they hold rental real estate as losses from a partnership flow through the entity directly to the partners. While a partner generally can deduct only losses that do not exceed his or her basis in the entity, many partnerships, especially those in real estate, have certain kinds of debt that provide the partners more basis to depreciate, and therefore the partners can take more substantial tax losses over time that may exceed their cash basis.

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  • Reconciling Tax and Book Income
  • Year-in-Review List of Federal Tax Developments for 2021

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