* Updated 2023 *
The U.S. Census Bureau shows an increasing number of self-employed businesses, from a total of 19.5 million in 2004 to 25.7 million in 2017. Clearly, the likelihood that any tax return preparer will be required to prepare a taxpayer’s tax return with a home office deduction is becoming more likely each year.
This course examines the deduction for business use of a home and:
• Qualifying for a home office tax deduction;
• Determining a taxpayer’s home office deduction using the actual expense and simplified methods;
• The special home-office deduction rules that apply to daycare facilities;
• Home-office deduction recordkeeping requirements; and
• Where to take the deduction and the forms used with this deduction.
CPE Course For:
CPAs in most states (chart)
Other Professionals (chart)
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Online Course Materials
Fully online PDF materials included in course.
Login to your course to read online / print / save to local drive
- Clickable table of contents
- Learning objectives--each section
- Review questions--each section
- Answers to review questions + explanations
- Glossary of terms used
- Worksheets, forms and examples
- Index with page numbers
* Fully searchable *
Fun CPE Course #: PWX0823
Materials: Online materials
Format: Interactive self-study
Subject: Federal Tax
Exam questions: Final-24 multiple choice
Document length: 46 pages
Passing score: 70% | Unlimited retakes
Advance prep: None
Course level: Overview
Last reviewed/updated: 01/01/23
Expiration: One year from enrollment
Upon completion of this course, you should be able to understand:
- 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.