|CPE Hours: 1 (
||Publication Date: 9/05/11
Prerequisites: Basic Understanding of Tax Preparation
This course discusses the deduction for points and other related topics such as the information reporting for home mortgage points, the points paid on home improvement loans, etc.
Final Exam Grading Policy - Course material must be completed within 12 months of purchase. A score of 70% or better is needed for passing. The completion certificate will be automatically generated by the system.
This text is divided as follows:
The Deduction for Points 2
Principal residence exception 2
Option to amortize points 2
Effect of Manner of Payment on Deductions 2
Loan to buy a principal residence 3
Points paid by the seller 3
Information Reporting for Home Mortgage Points 3
Points Paid on Home Improvement Loans 3
By completing this course a student will learn about the deduction for points. The student will review principal residence exclusion, the option to amortize points, points paid by the seller, refinance points, points paid on home improvement loans, and more.