This concise course focuses on Interest Tracing Rules, a critical topic for CPAs advising clients on mortgage interest deductions. Participants will gain expertise in accurately allocating interest expenses based on loan proceeds usage, significantly affecting mortgage interest deductibility and reporting. The course covers essential definitions, legislative guidelines, and practical application through real-world examples. Materials used for this course were supplied by Spidell's Federal Taxletter.

This overview course may be appropriate for professionals at all organizational levels.