Site MapHelpFeedbackTax Consequences of Home Ownership
Tax Consequences of Home Ownership


Upon completing this chapter, you should be able to:

LO 14-1Determine whether a home is considered a principal residence, a residence (not principal), or a nonresidence for tax purposes.

LO 14-2Compute the taxable gain on the sale of a residence and explain the requirements for excluding gain on the sale.

LO 14-3Determine the amount of allowable interest expense deductions on loans secured by a residence.

LO 14-4Discuss the deductibility of real property taxes and describe the first-time home buyer credit.

LO 14-5Explain the tax issues and consequences associated with rental use of the home, including determining the deductibility of residential rental real estate losses.

LO 14-6Describe the requirements necessary to qualify for home office deductions and compute the deduction limitations on home office deductions.









To learn more about the book this website supports, please visit its Information Center.
(c)2014 McGraw-Hill Higher Education
Any use is subject to the Terms of Use and Privacy Notice.
McGraw-Hill Higher Education is one of the many fine businesses of The McGraw-Hill Companies.


SpilkerOnline Learning Center

Home > Chapter 14