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Analyzing Self-Employed Borrowers 202 – Zeroing in on Partnerships & LLCs
Once you've learned the basics of building qualifying income from the tax returns of self-employed borrowers, you'll be ready to take your knowledge to the next step with this session that zeroes in on evaluating partnerships (Form 1065).
During this 60-minute session, we'll teach you how to document, then calculate and, finally, analyze the following:
- Use of guaranteed payments as part of qualifying income
- Why some Schedule K-1s show negative income but positive distributions
- Receipt of other income and when it can be retained
- Why LLCs use IRS Form 1065 to report their earnings
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Sandra Sweeney
Senior Customer Trainer
MGIC
Meet Sandra Sweeney
Sandra is a mortgage industry veteran with over 35 years of experience. Her varied roles in operations, loan origination, underwriting and management give her a deep understanding and appreciation for many roles present in the industry. Sandra rejoined MGIC in 2013 as an underwriter and recently transitioned to a full-time customer trainer and training program developer. She currently facilitates many of the MGIC national webinar courses. Sandra and her family reside by the water on Smith Mountain Lake, Virginia. In her free time, she enjoys boating, swimming and hiking.
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