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Real Estate Tax Accountant (Fixed Term)

Booth and Partners Pte Ltd
Posted 6 days ago, valid for 9 days
Location

New York, NY, US

Salary

Competitive

Contract type

Full Time or Part Time

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Sonic Summary

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  • A Real Estate Tax Accountant specializes in managing entity-level tax compliance and preparing Schedule K-1s for real estate portfolios.
  • Key responsibilities include preparing partnership tax returns, reviewing complex tax returns, and overseeing depreciation management.
  • The role requires 3+ years of experience in public accounting, particularly in partnership taxation and real estate entities.
  • Proficiency in tax preparation software and Microsoft Office is necessary, along with a preferred CPA license or EA status.
  • The salary for this position is competitive, reflecting the expertise required in the field.

A 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.


Requirements

  • Experience: 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.




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