Surgent's Tax Aspects of Home Offices and Vacation Homes

Objectives:

• Distinguish a pure residence from a mixed-use residence and how §280A applies
• Discuss the application of §280A to a vacation home that is also rented out during part of the year
• Identify the issues related to the use of the residence as a home office

Major Topics:

• Mixed use of a residence: how deductions are limited in rental situations
• Home office: qualification and calculation
• Strategies and planning for renting a principal residence instead of selling it
• Why buying a vacation home can be a very smart investment
• Should you rent or use your vacation home? Opportunities and pitfalls
• Rules for using like-kind exchanges on principal residences and vacation homes
• Understanding the tax rules for acquisition indebtedness and home equity indebtedness
• Maximizing your interest expense deduction in light of limitations in the tax code

Designed For:

CPAs who wish to assist clients with the home office deduction and/or vacation home issues

Prerequisite:

A basic course in individual income tax and in tax return preparation

Additional Info:

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For technical support, registration questions or other customer service-related inquiries, please call (800) 778-7436 or email [email protected]. Phones are staffed from 8:30 a.m. to 5:00 p.m. Eastern Time, Monday through Thursday, and 8:30 a.m. to 4:00 p.m. Eastern Time on Friday.