Understanding Schedule E

Real Life Planning Podcast

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3M ago 18:12

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In this episode, Vekevia Tillman-Jones dives into one of the most important tax forms for real estate investors—Schedule E. If you own rental properties, understanding how rental income is classified and reported can help you maximize tax efficiency and avoid costly mistakes when working with your tax preparer. She breaks down when to use Schedule E vs. Schedule C, how different business structures affect tax reporting, and why most rental income is considered passive for IRS purposes.

For educational purposes only - we encourage real estate investors to use professional tax advice!

"Most rental real estate income is considered passive income, meaning it’s reported on Schedule E and not subject to self-employment tax. That’s a big deal for tax planning." – Vekevia Tillman-Jones

This week on the Real Life Planning Podcast:

💡 What is Schedule E, and how does it differ from Schedule C? [00:03:07]

💡 Why most rental income is considered passive (and why that matters for taxes)? [00:05:22]

💡 How does a Qualified Joint Venture (QJV) help spouses simplify tax filing? [00:16:10]

💡 Why understanding Schedule E can help real estate investors plan ahead for tax season [00:20:34]

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About the Real Life Planning Podcast

Hosts Cynthia Meyer and Vekevia Tillman-Jones explore practical steps for real estate investors to build financial freedom and make working for someone else optional.

The ReaL Life Planning Podcast is for educational purposes only. None of the information discussed is intended as investment, tax, accounting, or legal advice, nor as an offer or solicitation of an offer to buy or sell, or as an endorsement of any company, security, fund, real property, or other securities or non-securities offering.

Real Life Planning, LLC is an Investment Advisor registered with the States of New Jersey, New York, Texas, Virginia, and California. All views, expressions, and opinions included in this communication are subject to change. This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy, or completeness of, any description of securities, markets or developments mentioned. Our current disclosure brochure, Form ADV Part 2, is available for your review upon request, and on our website, REALLIFEPLANNING.COM.

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