Review of Federal Tax Real Property Rental Rules.

Rental income from real estate properties represents one of the more interesting areas of client tax practice. Areas of concern are first whether or not losses are subject to limitation under either the vacation home or passive loss rules, including whether the client qualifies as a real estate professional. Among the other areas of concern are whether rental income is subject to self-employment (SE) tax, will qualify for a qualifying business income (QBI) deduction, or is subject to the net investment income tax (NIIT). [ABSTRACT FROM AUTHOR]