Vacation Home
Delivery: Text Based
Instructor: WiseGuides
Credit Hours: 2
Field of Study: Federal Tax
Approval: IRS, CTEC
Course Description:
After completing this course you will be able to:

• Identify the criteria for determining fair rental price for deciding personal use of a vacation
• home
• Determine what qualifies as a vacation home
• Identify which days are used for personal purposes with regard to a dwelling unit
• Apply the rules for how to treat income and expenses of a dwelling rented less than 15 days
• Apply the rules for how to treat the income and expenses of a dwelling rented more than 15
• days
• Figure rental use percentage for limit on deductions
• Identify the expenses that are allocated under each tier
• Figure the percentage of rental expenses using the IRS and the Tax Court methods of calculation
• Calculate how much vacation home income and deductions to report on Schedule E