Kentucky Society of Certified Public Accountants

Overview

The purpose of this course is to provide a practical and in-depth analysis of the significant tax planning advantages and strategies related to owning a principal residence for use as a home office and/or vacation home for upper income taxpayers.

Prerequisites

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

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

Highlights

Mixed use of a residence: how deductions are limited in rental situations
Home office: qualification and calculation
Strategies and planning for renting your principal residence instead of selling it
Why buying a vacation home can be a very smart investment
Should you rent or just 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

Register Now

Materials are generally available 3 days in advance of an event. Once you have downloaded the manual, we are unable to cancel your registration.

Event Code:

SUS0191

2 CPE Credits

Tax: 2 Credits

Registration

Member Price:

$49

Non-member Price:

$69