Listed Property

Publisher
WiseGuides, Inc.
2796 Greenspire Ln
Akron, Oh 44333
Copyright © 2010

Field of Study: Taxes
Level: Basic
Recommended CPE Credit 2 hours
Prerequisites: None
Advanced Preparation: None
Type of Delivery: Self-Study
Expiration: Course expires 1 year after purchase
Course Update: May, 2010
Accreditation: NASBA, IRS, CTEC, OTPB
Guarantee/Complaint Resolution

Course Outline


Lesson 1 - Defining listed property
Learning Objectives 1
Defining listed property
Passenger Automobiles
Other Property
Computers and Related Equipment


Lesson 2 - Qualified business use
Learning Objectives 2
Qualified business use
Entertainment Use
Leasing or Compensatory Use of Aircraft
Commuting


Lesson 3 - Predominant Use Test
Learning Objectives 3
Predominant Use Test
Allocating use
Predominant Use Test - First year
Applying the Predominant Use Test - After the first year
Recapture of excess depreciation
Lessee's Inclusion Amount
Last 9 months
Less Than One Year


Lesson 4 - Listed property limitations
Learning Objectives 4
Listed property limitations
Maximum Depreciation Amount
Deductions After Recovery Period
Standard Mileage Rate Method


Lesson 5 - Recordkeeping
Learning Objectives 5
Recordkeeping
Separate or Combined Expenditures or Uses
Substantial compliance
Loss of records
Length of time to keep records
Reporting Listed Property

Course Objectives

Lesson - 1
After completing Lesson 1, you will be able to:
  • Identify listed property
  • Define passenger automobiles
Lesson - 2
After completing Lesson 2, you will be able to:
  • Determine whether a taxpayer's use of listed property in performing services as an employee has met the business use requirements
Lesson - 3
After completing Lesson 3, you will be able to:
  • Identify the Predominant Use Test requirements
  • Determine if the predominant use requirement is met
Lesson - 4
After completing Lesson 4, you will be able to:
  • Determine the listed property limitations
  • Figure the maximum depreciation amount the taxpayer can take for a passenger automobile used for business
Lesson - 5
After completing Lesson 5, you will be able to:
  • Identify what records must be maintained for listed property
  • Identify an employer's requirements regarding filing Form 4562