DESCRIPTION

This module introduces the topic of residential rental properties and defines key terms. The material focuses on identifying qualifying expenses as well as exploring depreciation topics. Later, there is a discussion of the Tax effects of personal use of a residential rental property. The module also includes an optional review of a Closing Disclosure Statement. The learning for this module is primarily delivered through exercises and case studies.

LEARNING OBJECTIVES

  • Define residential rental property.
  • Identify income and expenses for residential rental properties.
  • Identify depreciation rules for residential rental properties.
  • Identify the “personal use” rules and their effect on taxation of residential rental properties.

Prerequisites

None

Advanced Preparation

None

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