IBMC is pleased to partner with Hali Plachecki, Regional Customer Trainer at Mortgage Guaranty Insurance Corporation (MGIC) to teach you the fundamentals of utilizing tax returns to document your borrower’s income.
Join us as Hali walks us through a self-employed borrower’s tax return step-by-step focusing on the following topics:
Day 1 – October 4th
- Cash flow tools and concepts of a tax return
- Identifying self-employed borrower income on personal returns
- Schedule B – Interest & Dividends
- Schedule C – Sole Proprietorship with dive into detecting automobile depreciation
- Farming Income presentation (covers schedule F & multiple owners filing partnership returns)
Day 2 – October 5th
- Cash flow tools and concepts (refresher)
- Schedule 1 & Schedule E page 2 – documenting SEB business, locating K-1s
- Partnerships & S-Corporations – documentation and passthrough income
- K-1 conversation – reviewing K1’s and cash distributions
- S-corporation pass through case study, including liquidity
- Partnership case study – partnership owning rental property
- Farming Income presentation (covers schedule F & multiple owners filing partnership returns)
Who Should Attend: Loan Officers, Processors and Underwriters