Description:
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.

Delivery Method:

Level: Overview

Prerequisites: None

Advanced Preparation: None

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Author: Paul Winn

Category: Taxation

Field of Study: Taxes

Passing Score: 70%

Publication Date: 01/14/2020

Technical Details:

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

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NASBA: Yes

QAS: Yes

CPA: Suitable for all CPAs

IRS: Enrolled Agents Program Number 263UK-T-00165-15-S