LO 14-1 | Determine whether a home is considered a principal residence,
a residence (not principal), or a nonresidence for tax purposes.
|
LO 14-2 | Compute the taxable gain on the sale of a residence and
explain the requirements for excluding gain on the sale.
|
LO 14-3 | Determine the amount of allowable interest expense
deductions on loans secured by a residence.
|
LO 14-4 | Discuss the deductibility of real property taxes and describe
the first-time home buyer credit.
|
LO 14-5 | Explain the tax issues and consequences associated with
rental use of the home, including determining the
deductibility of residential rental real estate losses.
|
LO 14-6 | Describe the requirements necessary to qualify for home
office deductions and compute the deduction limitations on
home office deductions.
|