Home  ::  Log In  ::  Search :: 
Classroom-Based Programs
Conferences and Workshops
Instructor-Guided Online Courses
Live Webinars

Designations and Certificates
Magazine and Newsletter Subscriptions
Market and Research Data
Publications and Guides
Self-Study Web-Based Courses
Webinar Recordings and Packages

RC_LP_U_305.1 Tax Return Basics
Member Price: $49.00
Nonmember Price: $79.00
Product Code: DL2-011066-WC-W
Delivery Options: N/A

Description of Product

This is a single-family/residential module.

Reviewing a borrower's personal tax return can be a daunting task. Forms and schedules abound, each one connected to the other, with numbers that are counted as income, losses, exemptions, and deductions. It is easy to become overwhelmed! In the Tax Return Basics course, participants learn when it is necessary to request borrower tax returns, become familiar with the various IRS schedules, and gain an understanding of how a borrower's income "flows" through the tax returns. This course also includes an overview of basic business structures, in which participants learn how business income is taken from business returns and added to personal tax returns. While this course provides an overview of business types, analyzing business tax returns is not covered as part of this course.

Tax Return Basics begins with an overview of investor documentation requirements for self-employed borrowers. It then introduces individual income tax return forms, including the 1040 and associated schedules. Next, it provides an overview of business structures. The course concludes with a discussion of the methods used by the industry to analyze personal tax returns, discusses related definitions, and provides learners the opportunity to apply the concepts they've learned to a case study.


  • Documentation Requirements
  • The U.S. Individual Tax Return
  • Business Structures
  • Methods of Analyzing Tax Returns
  • Definitions
  • Form 1040 Schedules Case Study - The Llama Loan

    Seat time approximately one (1) hour.

    Copyright 2019.

    Product Category:
    Self-Study Web-Based Courses 
    This is a self-paced, self-study course. Enroll anytime and take up to 12 months to complete the course. 
    Contact Info:

    For registration information, call (800) 793-6222 or email education@mba.org.

    Contact E-mail:
    RC_LP_U_305.1 Tax Return Basics 
    You may also be interested in these products...
    RC_LP_U_305.2 Income and Loss on Tax Returns
    RC_LP_U_305.3 Supporting Income and Loss on Tax Returns
    RC_LP_U_305.4 Supplemental Income and Loss on Tax Returns

       Terms of Use & Privacy Statement

    Copyright © 2020 Mortgage Bankers Association.  All rights reserved.