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Home Office DeductionCode: 21b-HOD
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Course description and objectives:
This course will examine the federal income tax deduction for business use of a home and will discuss:
Determining a taxpayers home office deduction using the actual expense and simplified methods;
The special home-office deduction rules that apply to daycare facilities;
The taxpayers home-office deduction recordkeeping requirements; and
Where to take the deduction and the forms a tax preparer must use in connection with it.
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
Presentation Method: QAS Self-Study
CPE credit: 3 Hours
Program Level: Update
Advance Preparation: None
Exam expiration date: Participants must submit exams for grading within one year from the date of purchase