Selling Your Home: Tax Implications

NEW!

Is your client selling their home? Is the home a primary or secondary residence, a business or rental? Are there short-term or long-term gains or losses to calculate? The various rules that apply to the sale of a home are explained in this course, along with details on proposed legislation that may affect tax years 2023 and beyond.

2 CPE credits.

Last Revision: June 2022

$30.00
Prerequisites

Prerequisites are not necessary to participate in this course and no advance preparation is needed.

Course Description

Is your client selling their home? Is the home a primary or secondary residence, a business or rental? Are there short-term or long-term gains or losses to calculate? Overall, the various rules that apply to the sale of a home are explained in this course, along with details on proposed legislation that may alter the rules for calculating gain or loss for tax years 2023 and beyond.

Lots of examples and instructions!

After completing this course, you will be able to:

  1. Specify the different treatment of home sales for tax purposes, based on the character of property involved
  2. Specify the different exclusion rules and exceptions applying to the sale of a primary residence
  3. Calculate short-term or long-term capital gain or loss from the sale of a home
  4. Identify special rules applying to the sale of depreciable business or rental property, including rules affecting the basis of property, as well as depreciation recapture rules
Affiliation* CPE Awarded Delivery Method Field of Study Course ID Sponsor ID
CPE Facts
NASBA 2 Self-Study Taxes N/A 103137
CTEC 2/0 Self-Study Federal Tax Law 3038-CE-0272 3038
IRS 2 Self-Study Federal Tax Law FQTGU-T-00501-22-S FQTGU
Texas State Board of Accountancy 2 Self-Study Taxes 100379 002921
Pennsylvania State Board of Public Accountancy 1 Self-Study (Non-Interactive) Taxes N/A

* Individuals with other professional credentials should check with their state licensing board or accrediting organization to determine if this program meets their continuing education requirements.

Affilliation

 

Drake Software is an IRS-qualified sponsor of continuing professional education.

 
 

Drake Software is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website, www.learningmarket.org

Drake Software has been approved by the California Tax Education Council to offer the Selling Your Home course, 3038-CE-0272, which provides 2 hours of federal credit and 0 hours of state credit towards the annual continuing education requirement imposed by the State of California. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA 95812-2890, at (877) 850-2832, or at www.ctec.org.

 

Drake Software is registered with the Texas State Board of Public Accountancy as a CPE sponsor. This registration does not constitute an endorsement by the Board as to the quality of our CPE program.

Course Policies

Send cancellation requests to Support@DrakeCPE.com. Requests must be made within 30 days of purchasing the course. To be granted a full refund, you must not have completed and earned continuing education for the course. No refunds will be issued after the course expiration date. For more information regarding the refund policy or to address concerns or complaints regarding courses, contact the DrakeCPE support team at Support@DrakeCPE.com.

Other Details
Last Revision June 2022
Course Expiration The CPE portion of this course expires one year from date of purchase