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Seminar

Vacation Home Deductions (202)

Register for this course:

The meeting times for this class are in the past. Please check here for additional meeting times.

Meeting Times:

Monday, May 04, 2020 10:00 AM - Monday, May 04, 2020 12:00 PM
The meeting time above is expressed in MOUNTAIN TIME, which is:
Eastern Time:
12:00 PM - 2:00 PM
Central Time:
11:00 AM - 1:00 PM
Pacific Time:
9:00 AM - 11:00 AM

Price:

This course is in the past and can no longer be purchased.

Location:

Internet Course - Live Streamed

Delivery Method:

Group Internet Based

Credit Hours:

2.0 IRS Federal Tax Law MF2AY-T-00936-20-O

Field of Study:

Taxes - Technical (Individual Income Taxation)

Course Level:

Basic

Prerequisites:

None

General Description:

The participant will receive an in-depth explanation of the vacation home rules, as well as an understanding of the interaction of ยง280A with the passive activity loss rules.

Learning Objectives:

After completing this course the participant will be able to:

  • Summarize the vacation home rules of §280A and describe the tax benefit of increasing personal use.
  • Define the term "residence" and describe when interest on debt incurred to purchase the vacation home is deductible.
  • Define personal use of a vacation home.
  • Differentiate between the Bolton and regulations methods for allocating expenses.
  • Apply the passive activity loss rules to a vacation home, including how the rules affect a real estate professional.
  • Describe the tax effect of the Tax Cuts and Jobs Act on vacation homes and why after the Tax Cuts and Jobs Act the regulations method might always be the preferred method for allocating expenses.
  • Discuss the disposition of a vacation home including the sale at a gain or loss, nonqualified personal use, and exchanging a vacation home using the like-kind exchange rules.

Instructors:

Mark A. Vogel is a retired professor and director of the University of Denver Graduate Tax Program, where for 38 years he taught courses in individual, fiduciary, tax accounting, partnership, and corporate taxation. He is the author of Divorce Taxation Guide (John Wiley & Sons) and Individual Taxation (Shepards/McGraw-Hill). He received a J.D. and LL.M. in Taxation from the University of Denver College of Law and an undergraduate accounting degree from the University of Notre Dame. He is also a CPA licensed in Illinois.

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