S19-Mortgage Interest: New TCJA Complexities

Thursday, June 27 | 3:30 pm - 5:10 pm
Track: Individual
CE Categories:
     2 hours Federal Tax Update (EA, CRTP, OTRP)
     2 hours Taxes/Tax Planning (CPA, CFP)
     1.75 hours Taxation Law (Attorney – CA Bar MCLE)
     2 hours (CSEA/NaEA)
Speaker: Alan Pinck, EA

Description: Mortgage interest has always been one of our clients' biggest deductions. With TCJA changes the rules have changed and gotten more complex. Reduced deduction allowances and grandfathering provisions aren’t as easy as they sound. As with many of the changes under TCJA mortgage interest is one area we need to look at more closely than before.

Learning Objectives
1. Learn about different types of mortgages and how they can affect the deductibility
2. Gain an understanding of how TCJA changed the deduction
3. Tracing or allocating learn the difference and when it applies 
4. Learn what to look for with new clients as well as how to ask existing clients the right questions to be sure                     
5. Correctly compute the deduction when clients have second residences, refinance, or purchase new property

Learning Level: Introductory 

Prerequisites: None

Advanced Preparation: None