CPE Course Owning and Renting a Principal Residence

October 30, 2017

11:30AM — 12:30PM

Location Webinar

Member Price $30.00
Non-member Price $50.00

Curriculum Taxation

Field of Interest

Level Overview

Designed For

CPAs, lawyers and other advisers who offer tax and personal financial advice to individuals.

1.00 credits

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Objective

  • Determine the tax deductibility of interest expense related to debt secured by the residence.
  • Evaluate deduction available for real property taxes.
  • Consider possible tax savings from residential energy credit.
  • Recognize and apply the "home office" deduction limitation for business use of principal residence.
  • Evaluate the tax consequences of renting a principal residence for all or part of the taxable year.
  • Consider how the casualty loss rules apply to principal residences.

Highlights

  • Deduction of "home mortgage interest"
  • Deduction of real property taxes taxes
  • Residential energy credits
  • Use of the home for business purposes, "home office" complication
  • Rental of a principal residence, the vacation home complication
  • Rental of principal residence with a resulting loss, the passive activity limitation
  • Casualty losses

Instructors

Prerequisites

Basic understanding of the federal income tax law as applied to individual taxpayers.

Developer

California Society of CPAs

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