(3-hour CE credit for year 2019) Price $33.  Self-study.

Program Description:

Home Office Deduction

Home Office Deduction examines the federal income tax deduction for business use of a home. It addresses the qualifications for a home office deduction and the actual expense and simplified methods of determining the deduction. In addition, it discusses the special home-office deduction rules applicable to daycare facilities and the recordkeeping requirements applicable to taking a home office deduction. It considers where the deduction should be taken and the forms a tax preparer should use in connection with the deduction.

Upon completion of this course, a student 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.

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