CATEGORY: Self-study

2021 Home Office Deduction

Course Access: Lifetime
Course Overview

Home Office Deduction

Home Office Deduction examines the federal income tax deduction for
business use of a home. It addresses the qualifications for a home office
deduction and the actual expense and simplified methods of determining the
deduction. In addition, it discusses the special home-office deduction rules
applicable to daycare facilities and the recordkeeping requirements applicable
to taking a home office deduction. It considers where the deduction should be
taken and the forms a tax preparer should use in connection with the deduction.

Upon completion of this course, a
student should be able to:

  • 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.

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