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
Course is unavailable for purchase.
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
12753
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