Rent-Free In My Head
Rental Activity is repoted on this Schedule
Schedule E
Tax Form for filing income from a Partnership (be specific)
K-1 1065
Retirement Contributions show as Code D on a W-2, also shows as this
Deferred Compensation
A Self-employed activity with 3 or more years of consecutive losses is generally this type of actvity
Hobby / Not For-Profit
Long term rental losses are usually excluded from other income due to this limitation
Passive Activity / Passive Activity Loss
For books to be balanced, Assets must equal...
Liabilities & Equity
An IRA paid for with Post-Tax Dollars
Roth IRA
The act of taking reasonable steps to ensure information is accurate is called this
Due Diligence
A house does not meet minimal rental use if you used as a residence and rented for fewer than ....
15 days
A partner is whose losses are capped at their personal cost basis
Limited Partner
An SEP or SIMPLE IRA indicates the taxpayer is receiving this type of income
Self Employed / Business
The IRS defines good practices, duties, obligations, and consequences for violations through guidelines call this
Circular 230
Depreciation Recapture of Sold Rental Property can possibly be deferred if you buy a house of the same type through this IRS Code
1031 / Like-Kind Exchange
Net Earnings not paid out to shareholders show up as this on a balance sheet
Retained Earnings
Saver's Credit
The Assessment Statute Expiration Date (ASED) for a Tax Return in which the taxpayer has committed Tax Fraud in the past
No Ased / Indefinite / Forever
The amount of rent someone not related to you is generally willing to pay is called this
Fair Rental Price
On 1065/1120's, Reconciliation of Income per Books vs Income Per Tax Return is shown on this schedule
M-1
Taxpayers older than 72 must take withdrawals from their retirement plans called this
Required Minimum Distributions (RMD's)
Censure, Suspension, Monetary Penalties and or Disbarment from Practice are also possible consequences the IRS also calls this term
Sanctions