Strategies to help return reviewers quickly identify common errors that practitioners make on individual tax returns.
Learning Objectives
- Determine the proper tax treatment for certain rental property activities.
- Distinguish between hobbies and businesses.
- Identify the warning signs that a client might have unreported income.
- Determine proper tax return reporting of a like-kind exchange transaction.
Major Topics
Qualified business income deduction
Hobby losses
Self-employment health insurance
Business start-up costs
Depreciation
Schedule C issues
Like-kind exchanges
Clean vehicle credit
