EVENT DESCRIPTION
OBBB made sweeping, permanent changes to the home office deduction and §179 expensing, while also reshaping bonus depreciation, mortgage interest/PMI rules, and the §121 home sale exclusion. This course covers qualifying a home office under §280A and §183 case law, choosing between the Actual and Simplified deduction methods, depreciation planning under the new §179/bonus depreciation rules, §1245 recapture on disposal, and the tax treatment of selling a home with business use.
EVENT OBJECTIVE
Upon completion, participants will be able to:
• Distinguish a bona fide business from a hobby under §183, using Crile and Golanty.
• Apply the §280A tests (exclusive use, regular use, principal place of business) to qualify a home office.
• Identify the two exceptions to exclusive use — inventory storage and daycare — and calculate the deduction under each.
• Compare the Actual and Simplified home office deduction methods.
• Explain OBBB's changes to 1099 reporting thresholds and the PMI/mortgage interest deduction rules.
• Determine the correct ordering of §179 expensing, 100% bonus depreciation, and MACRS under OBBB's increased limits.
• Calculate §1245 recapture on disposal of depreciated business equipment.
• Apply the §121 home sale exclusion, including reduced-exclusion scenarios and rules for homes with business use.
