This two-hour CPE course provides a thorough discussion of the tax issues facing clients who rent real estate. It details general passive activity rules. Using real-world case studies, you will learn the importance of qualifying as a real estate professional regardless of whether the rentals generate losses or income. The course details the statutory and regulatory requirements that must be met to do so. The availability of two different elections that a taxpayer may make in order to facilitate satisfying the real estate professional tests are highlighted. Upon completion of this course, you should be able to: Navigate the real estate professional rules; apply real estate professional rules to client situations; and identify tax savings opportunities for clients who own, rent or sell real estate.