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