Residential Rental Property Tax Preparation 2021-2022

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