Checkpoint Learning

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Interest Deduction Rules   Updated

CATEGORY: Taxation
COURSE ID: CLINT8, VERSION 13.00
(41)
Online & Mobile, Download
8 CPE Credits

Most individuals incur interest expense from a variety of personal indebtedness items. The interest expense is deductible in some cases and not deductible in other cases when calculating federal income tax liability for an individual. This course discusses the deductibility of interest expense arising from items such as business, investment, home mortgage, below-market loans, capitalized interest and AMT, and even self-charged interest. In addition, the changes introduced by the Tax Cuts and Jobs Act of 2017 and applicable for tax year 2018 through 2025 are discussed and illustrated. This course is most appropriate for the professional with detailed knowledge in federal income taxation of individuals who may be at a mid-level position within an organization with operational or supervisory responsibilities, or both. The final exam for this course includes many hands-on, scenario based questions that may require extensive calculations.

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