Vacation Home

$49.95

Product Description

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

0 reviews