Job DescriptionA
Real Estate Tax Accountant specializing in reviewing tax returns and preparing Schedule K-1s is responsible for managing entity-level tax compliance, passive activity limitations, and property depreciation for real estate portfolios.
Key Responsibilities- K-1 Preparation: Prepare Form 1065 or Form 1120-S partnership/S-corporation tax returns and accurately allocate income, deductions, and credits to generate Schedule K-1s for investors.
- Return Review: Review complex real estate tax returns, including Form 8825 (Rental Real Estate Income) and Form 4797 (Sale of Business Property).
- Depreciation Management: Oversee depreciation schedules, asset additions, and cost segregation study results in accordance with MACRS rules.
- Tax Compliance: Apply passive activity loss (PAL) rules, real estate professional status (REPS) tests, and at-risk limitations.
RequirementsExperience: 3+ years of experience in public accounting, with a focus on partnership taxation and real estate entities.Software: Proficiency in professional tax preparation software and Microsoft Office.Credentials: Certified Public Accountant (CPA) license or Enrolled Agent (EA) status preferred. 
