> Webinar: What is That Personal Tax Return Telling Me? Part 2: Schedules E & F

Wednesday, February 26, 2014
3:00 PM Eastern Daylight Time
4:30 PM


Credit Union Web Training Webinar:
What is That Personal Tax Return Telling Me? Part 2: Schedules E & F

In this webinar, lenders will learn about replacing taxable incomes (which don’t pay you back) with cash flows (which do). The incomes reported on Page 1 of the Form 1040 will be briefly addressed, including certain kinds of interest income and income from divorces, retirements, and other sources. Our focus, however, will be on how to obtain verifiable income from rental and royalty property (Schedule E Page 1), from partnerships and S corporations (Schedule E Page 2), and from farms (Schedule F). In addition, determining cash flow for consumer and commercial lending and compliance with the new income verification rules for qualified mortgages will be covered.

Why must we dissect all this? Because tax returns don’t show cash flow. They show the IRS a taxpayer’s taxable incomes and allowable deductions. Those items are often quite different from cash flow. Decoding the tax forms will help you find positive cash flows, remove phantom expenses, and replace them with real, negative cash flows.


  • Schedule E, Page 1: Rental and Royalty Income – Calculate real cash flow from rental and royalty properties
  • Schedule E, Page 1: Rental and Royalty Income for Qualified Mortgages – What you can and cannot consider as qualifying income under the new qualified mortgages rules
  • Schedule E, Page 2: Partnerships and S Corporations – What income can be relied upon and what should be ignored as phantom income
  • Schedule E, Page 2: Qualified Income Rules for Partnerships and S Corps – The qualified mortgage rules limit what can be used to qualify these incomes
  • Schedule F: Farm Income – Know how to identify hidden income from farm tax returns


  • Complimentary copy of Lenders Tax Analyzer© software which allows lenders to obtain a borrower's real cash flow from a Form 1040, including income from rentals, self-employment, farms, partnerships, S Corporations, investments, etc. Three tax years are linked on one report.
  • Employee training log
  • Quiz you can administer to measure staff learning and a separate answer key


This program is the second of two in a series. There’s still time to register for:
“What is That Personal Tax Return Telling Me? Part 1: Form 1040, Schedules B, C & D” on Thursday, January 30, 2014.

Or if you missed it, you can order an archive of the live webinar, complete with handout materials.

Continuing Education: Attendance verification for CE credits upon request

This informative session is designed for chief lending officers, CSRs, sales staff, brokerage staff, new accounts personnel, loan officers, loan underwriters, credit analysts, loan processors, branch managers, CEOs, and other key lending staff.

Webinar content is subject to copyright and intended for your individual credit union’s use only.

Tim Harrington, TEAM Resources

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