Self Study: Sale of Principal Residence Tax Problems and Issues

General Description:

This course covers the basics of the IRC Section 121 home-sale exclusion, as well as the limitations to the home-sale exclusion and non-qualified use.

Learning Objective:

After completion of this course the participant will be able to:

• Calculate a home-sale gain and the applicable home-sale exclusion.
• Identify exceptions to the home-sale exclusion ownership and use requirements.
• Distinguish between qualified use and non-qualified use.

Instructors:

Richard L. Russell, Jr. is an associate professor of accounting at Metropolitan State University of Denver (MSU Denver), teaching Tax I & II in the undergraduate program and Tax Research, Tax Practice & Procedure, and Partnership Taxation in the graduate Master of Professional Accountancy program. He earned his bachelor’s degree in accounting and Master of Professional Accountancy from Jackson State University and J.D. from the University of Iowa College of Law. He is licensed as a CPA in Mississippi and Colorado and licensed as an attorney in Colorado. He has served as a member of the AICPA’s Regulation Subcommittee, which votes on CPA exam questions related to tax and business law, and is licensed to practice before the United States Tax Court.

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