Interest and Debt – Key Tax Issues

Course Information

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Title: Interest and Debt – Key Tax Issues
Category: Taxation
Field of Study: Taxes
Course Code: T019-0111
CPE Credits: 17.0
Price: 99.95



This course brings the practitioner up-to-date information on tax issues affecting interest and debt. It covers the definition of bona fide debt, the avoidance of equity and lease treatment, imputed interest rates and debt modification. The various types of interest and their required allocation are explored and reviewed. For the economically troubled client, special attention is devoted to debt cancellation, repossession, discounts, and foreclosure. The program also discusses installment sales, equity participation debt, taxable interest, and bad debts.

Delivery Method: Online Interactive Self Study

Level: Overview

Prerequisites: None

Advanced Preparation: None

Course Details

Category: Taxation

Field of Study: Taxes

Passing Score: 70%

Technical Details: Taxation is a technical field of study for all states.

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Chapter 1 Deductible Interest & Debt 1. Determine “interest” and select how much is tax deductible under Section 163 by: a. Identifying what constitutes bona fide debt considering economic substance and purpose and specifying how transactions with family members and controlled corporations can recharacterize alleged indebtedness into gift or business equity and the factors used in this recharacterization; and b. Specify the incentives to use corporate debt instead of equity, recognizing the special treatment of failed equity investment under Section 1244, and determining the differences among debt from installment sales, long-term and leveraged leases, and annuities. 2. Identify deductible interest, special calculation concepts and procedures by: a. Recognizing the allocation of interest based on the debt’s purpose, the application of any carryover rules and determining net investment income and its relationship to the investment interest deduction; and b. Identifying the special tax treatment given to studen

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QAS: Yes

CPA: Suitable for all CPAs

IRS: IRS credit for Enrolled Agents.

Profession Identifiers: CPA, EA