Home Office DeductionCode: 21b-HOD

52 pages
Course description and objectives:

• This course will examine the federal income tax deduction for business use of a home and will discuss:

  • Determining a taxpayer’s home office deduction using the actual expense and simplified methods;

  • The special home-office deduction rules that apply to daycare facilities;

  • The taxpayer’s home-office deduction recordkeeping requirements; and

  • Where to take the deduction and the forms a tax preparer must use in connection with it.

Learning Objectives
Upon completion of this course, you should be able to:

• Apply the home-office deduction qualification rules; 
• Identify the types of home office use to which the exclusive use requirement does not apply;
• Describe the various types of taxpayer expenses that may be used to support a deduction for business use of a home;
• Apply the rules applicable to the simplified method of figuring the home-office deduction;
• Identify the tax forms on which a home-office deduction should be taken; and
• Recognize the recordkeeping requirements applicable to documents supporting a taxpayer’s
  home-office deduction.

Presentation Method: QAS Self-Study

Category: Taxes

CPE credit: 3 Hours

Program Level: Update

Prerequisites: None

Advance Preparation: None

Exam expiration date: Participants must submit exams for grading within one year from the date of purchase

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American CPE, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors at their website, www.learningmarket.org

NASBA Sponsor number 108096