1040 Preparation and Planning 8: Gross Income: Business, Farm, and Rental Income (2018)

Authored by Sidney Kess, Barbara Weltman
About this Course
Topics covered include: Schedule C and C-EZ; Domestic production activities; Vacation home rules; Home office deduction; Farming activities. Upon completing this course, you should be able to: Complete Schedule C or C-EZ; Apply the deduction for domestic production activities; Utilize the vacation home rules; Figure meal and entertainment deductions, including applicable limitations; Figure the home office deduction; Determine deductible expenses in connection with investments and income-producing activities; Explain property depreciation, first-year expensing, bonus depreciation, and depreciation recapture; Determine how employer-paid expenses are treated; Identify expenses subject to amortization; Figure depletion deductions; Apply the limits on trade or business losses; Figure the amount of casualty and theft losses that can be deducted; Determine net operating losses; Determine whether a debt is a business or nonbusiness bad debt; Determine whether a nonbusiness bad debt is deductible; Apply the statute of limitations on bad debts; List special deductions for farming activities; Apply the passive activity loss rules to businesses and rental activities; Determine when losses from the rental of a home are deductible.
$ 50.00
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NASBA Field of Study
Taxes
Level
Intermediate
CPE Credits
4.0
Prerequisites
1040 Preparation and Planning: Fundamentals or basic understanding of Form 1040.
Last Updated
02/05/2018
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