Rental Income and Expenses (IRC §280A)
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Speaker : ANTHONY P.CURATOLA
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When : Tuesday, July 15, 2025
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Time : 01 : 00 PM EST
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Anthony Curatola is the Joseph F. Ford Professor of Accounting and Tax
at Drexel University in Philadelphia. Tony’s area of research is the
taxation of individuals, small businesses owners, and retirement income.
He has authored over 230 articles in his field and has completed
sponsored research for external groups. His findings have appeared in
media such as Forbes, The Washington Post, Wall Street Journal, and The
New York Times. He is the editor of the tax column for Strategic
Finance, and the author of several interactive education courses for
Thomson Reuters. He holds a variety of leadership positions in
accounting associations, including the Institute of Management
Accountants. Dr. Curatola earned his B.S. in Accounting ’75 and MBA in
Finance ‘77 from Drexel University, M.A. in Accounting ’79 from The
Wharton School of the University of Pennsylvania, and Ph.D. in
Accounting ‘81 from Texas A&M University.
It is common for a taxpayer to own more than one property. In some of these cases, the non-primary residence may be rental property, part rental/part personal, or casual rental. In each case, the taxpayer needs to follow the tax rules in determining the income and expenses associated with each of these properties.
In this session, we take an in-depth review of IRC §280A. This section of the Code provides rules for taxpayers claiming a dwelling unit that is rented and sometimes used by the taxpayer during the taxable year. Depending on the situation, the taxpayer must determine the percentage of days associated with rental income, personal use, and non-rental/personal usage to determine the true deductible expenses. Moreover, the taxpayer and tax professional must be cognizant of the proper tax form required by the tax law to report the income and expenses.
Another special tax rule in the Code provides a rule to allow the taxpayer to exclude the income if certain time limits are met. In such cases, the taxpayer is also not permitted to claim any expenses. Finally, we will include in our presentation any new tax legislation that impacts this area.
Areas Covered
- An overview of the income and deductions for rental property under IRC §280A.
- The treatment of income and expenses when the property is rented part of the time and used part of the time personally.
- Distinguish personal use from rental.
- Illustrate the calculations associated with limited rental use.
- Present the reporting rules for rental income and deductions.
Who Should Attend
Tax preparers, CPAs, Accountants, Local and regional accounting firms, Financial Planners, Consultants
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$160.00
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