This course presents the circumstances under which a loss may be deducted for tax purposes and the application of the at-risk rules and passive activity loss rules. The explanation includes material participation, grouping activities for passive activity rule application, passive activity credits as well as the deductibility of a loss from the sale or exchange of capital assets. This course concludes with a presentation on the limitations that apply to deductions for vacation homes, home offices, and investment interest. <br/><br/> By proceeding to the examination, you acknowledge and confirm that you have completed the required coursework.