Personal Interest Deduction Rules  

Most individuals incur interest expense from a variety of personal indebtedness items. Interest expense is deductible in some cases and not deductible in other cases when calculating an individual's federal income tax liability. This course discusses the general rules regarding the deductibility of interest expenses and then moves on to discuss the items that may not be deductible. After dealing with the basics, the deductibility of interest expense arising from items such as personal and student loan interest, home mortgage, points, and PMI payments are covered.

This intermediate level course is most appropriate for the professional with detailed knowledge in federal income taxation of individuals or the professional seeking to expand his or her knowledge base and who may be at a mid-level position within an organization with operational or supervisory responsibilities, or both.

By proceeding to the examination, you acknowledge and confirm that you have completed the required coursework.