Reference no: EM133150292
Chapter 7
1. Determine the amount and classification of losses originating from business operations.
2. Ascertain the amount and classification of losses from investment-related activities.
3. Understand tax shelters and the rationale for at-risk rules.
4. Achieve a thorough understanding of the intricacies of the passive activity rules.
5. Identify and determine the amount of allowable business and theft losses.
6. Calculate the amount of a net operating loss and determine the amounts to be carried forward.
7. Understand the allowable home office expenses and determine the limitation on the deduction for such losses.
8. Achieve an understanding of the vacation home rental rules and the limitation on such losses.
Chapter 8
1. List items making up the medical expense deduction.
2. Determine the deduction for state and local taxes.
3. Apply rules for the interest expense deduction.
4. Explain the requirements for the charitable contribution deduction.
5. Calculate the limitations on the charitable contribution deduction.
6. Compute the ordinary business income deduction.
Attachment:- Chapter 7-Deductions-Business-Investment Losses .rar
Attachment:- Chapter 8-Deductions-Itemized Deductions.rar