Practical Real Estate Tax Management: Records, Schedule E, and Major Transactions

Practical real estate tax management involves systematic record-keeping, accurate reporting through Schedule E for rentals, and careful planning around major transactions. The owners who manage real estate taxes well share habits of comprehensive documentation and patient attention to detail. This course walks through that practical work. You will work through written exercises that mirror how a thoughtful owner would manage real estate tax aspects across years. The emphasis is on routines that support both accurate reporting and tax-aware decisions. What you'll learn: - Maintain basis records including original purchase, improvements, and depreciation taken - Complete Schedule E for rental income including income, expenses, and depreciation - Plan for property tax including escrow accounts and direct payment options - Handle home sales including section 121 exclusion and any taxable portion - Manage 1031 exchanges for investment properties with qualified intermediaries - Address common challenges including mixed-use properties, partial-year rentals, and inheritance step-up The course progresses from basis records through Schedule E, property tax payments, home sales, 1031 exchanges, and common challenges. A capstone written exercise asks you to plan a real estate tax approach for your situation. This course is designed for current homeowners, rental property owners, and prospective real estate investors. It is approachable for committed beginners. The course is informational and complements, but does not replace, advice from qualified tax professionals and real estate attorneys, especially for transactions with significant value or unusual circumstances.