Residential Rental Property Tax Preparation 2021-2022

Residential Rental Property Tax Preparation 2021-2022

What you’ll learn

  • Explain what is new for the current year
  • Discuss what is included in rental income
  • Describe when to report rental income
  • Explain accounting methods
  • Describe common rental expenses or deductions
  • Discuss how personal use of property can impact the amount of expenses to report
  • Explain what depreciation is and how it applies to rental property
  • Discuss what rental property can and cannot be depreciated
  • Describe limitations on rental losses, at-risk rules, and passive activity limits
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