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|2017 Corrections and Updates
CA Update 9/7/2017 DOWNLOAD NOW
|Tax Law Correction - Question 15 - 07/01/2017
not correct regarding the Business Use of Home?
A. If a taxpayer regularly uses a specific area of his home in the
trade or business of providing day care services, he or she
generally can claim a deduction for the expenses allocable to
that specific area of his home.
B. In addition, if that area of his home is not used exclusively in
providing day care services, he or she must make another
allocation of those expenses based on the percentage of time
that the area is used in providing day care services.
C. Computing the time allocation would exclude computing the
area of the home. Both allocations are not used.
D. A time allocation is computed by taking the time the time the
home is used to provide day care services and comparing the
amount of time that the home can be used for all
purposes (usually 365 days x 24 hours (8,760 hours).