Real Estate Pros: Do They Really Exist?
Recorded On: 12/27/2016
This highly misinterpreted area of the tax code can be beneficial for some taxpayers and an audit nightmare for others. In this session we will learn what the code and regulations say and how they are commonly misunderstood by the IRS and Tax Court as well as tax professionals. The ability to make a passive activity active can mean a lot of tax savings to your clients if they qualify, and a bad audit if they do not. The course will cover how to prepare and represent your client in this type of audit, understanding Reg. 1.469-5T, and the ability to make a late election under Revenue Procedure 2011-34 can be the key to a positive outcome.
Alan Pinck, EA
Alan Pinck, EA is currently the NAEA Education Committee chair, an Education Foundation Trustee and has previously held board positions including president of the Mission Society of Enrolled Agents. He has taught at the CSEA Super Seminar and teaches a Part 2 SEE preparation class. His practice in the San Francisco Bay area specializes in personal and business tax return preparation as well as audit representation. Pinck serves as an NTPI® Level 1, 2 and Graduate Level in Representation instructor.