The Internal Revenue Code plays a pivotal role in fostering home ownership by providing individuals with valuable deductions for mortgage interest and real estate taxes.
Section 121 Exclusion, often referred to as the principal residence tax exclusion, grants individuals the ability to reinvest proceeds from the sale of their primary homes into another property without incurring taxes on the gain. In this online CPE Course, we will embark on a comprehensive exploration of the intricacies surrounding the IRC Section 121 exclusion. Our focus will extend to understanding the tax ramifications of qualified use, non-qualified use, the conversion of a primary residence to rental property, the incorporation of home office use, and a myriad of other scenarios with significant tax implications.
Major topics covered:
Join this CE Tax webinar, we'll shed light on pertinent issues related to Airbnb, providing a comprehensive understanding of tax considerations in the realm of home ownership
President, ABC Bookkeeping & Tax Service, Inc.
A.J. Reynolds, EA has over thirty years of experience encompassing various areas of taxation. Though his practice centers on Individual, Business, and Estate Tax preparation, A.J. focuses a portion of his practice to IRS Representations. As diverse as his specializations, A.J.’s clientele, too, ranges from average workers to Fortune 500 executives. Additionally, A.J volunteers his time with the Iowa Legal Aid’s Managing Attorney assisting in Tax Court cases and assorted income tax issues.
A.J. brings his everyday “in the trenches” experience to seminars and webinars for multiple organizations to assist attendees with real issues affecting tax professionals.
A.J. started his tax career with a national CPA firm in San Diego, CA after proudly serving for five years in the United States Navy onboard the Guided Missile Destroyer USS Callaghan. While onboard the destroyer, the ship executed many missions in the Straits of Hormuz off the coast of Iran.
Outside of his tax practice, A.J. is a member of the Diocese of Sioux City Priests’ Pension & Welfare Board and the Investment Advisory Board for the Diocese. When not working, his time is spent in various activities, including traveling with his wife and their two children.
Course Level
Credits
Instructional Method
Pre-requisites
Advance Preparation
MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.
MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
MY-CPE LLC (Sponsor Id#: 143597) 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.NASBARegistry.org.
MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
MY-CPE LLC (Sponsor ID# : 6273) has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. 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, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.
70 Ratings
MM
Feb 5th, 2024
Instructor was one of the best presenters I have had in a webinar ever. You are lucky to have him as part of your team. I will go out my way to take in class that he is the instructor.
KM
Mar 3rd, 2024
It's a helpful tool to gain knowledge on the topic of primary residence.
TTSJ
Feb 5th, 2024
very helpful information. The presenter is full of knowledge. Thank you.
DB
Apr 22nd, 2024
Info you can use and apply. Keep up with the excellent content.
JP
Mar 8th, 2024
good experience, relevant material
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