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

PRODUCTS
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_305.3 Supporting Income and Loss on Tax Returns
Member Price: $49.00
Nonmember Price: $79.00
Product Code: DL2-011068-WC-W
Quantity:
Delivery Options: N/A







Description of Product
Description:

This is a single-family/residential course.

This course discusses using tax returns to determine qualifying income for self-employed borrowers when underwriting mortgage loans. The course examines Schedule C, Schedule D, and Schedule F of Form 1040 and how these types of income are adjusted using Freddie Mac's Form 91 Income Calculations (Schedule Analysis Method) to determine qualifying income. This form will be referred to in the course as Form 91.

Supporting Income and Loss on Tax Returns begins with a discussion of the Sole Proprietorship business structure. It reviews Schedule C (Form 1040), Profit or Loss From Business and how underwriters adjust Schedule C income using Form 91. Students then practice those concepts using a case study. The course continues with Schedule D (Form 1040), Capital Gains and Losses and explains how income and losses reported there are adjusted to arrive at qualifying income. The course concludes with an examination of Schedule F (Form 1040), Profit or Loss From Farming and a case study focused on that schedule.

Topics:

  • Sole Proprietorship Characteristics
  • Schedule C, Profit or Loss From Business (Sole Proprietorship)
  • Schedule C Case Study - The Llama Loan
  • Schedule D, Capital Gains and Losses
  • Schedule F, Profit or Loss From Farming
  • Schedule F Case Study - The Llama Loan

    Seat time approximately one (1) hour.

    Copyright 2019.

     
  •  
    Product Category:
    Self-Study Web-Based Courses 
     
    Notes:
    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:
    education@mba.org 
     
    Product:
    DL2-011068-WC-W 
     
    Title:
    RC_LP_U_305.3 Supporting Income and Loss on Tax Returns 
     
    You may also be interested in these products...
    RC_LP_U_305.1 Tax Return Basics
    $49.00/$79.00
    Details
    RC_LP_U_305.2 Income and Loss on Tax Returns
    $49.00/$79.00
    Details
    RC_LP_U_305.4 Supplemental Income and Loss on Tax Returns
    $49.00/$79.00
    Details


       Terms of Use & Privacy Statement

    Copyright © 2019 Mortgage Bankers Association.  All rights reserved.