Colorado Pre-Licensing Course: Taxes and Real Estate: What You Need to Know

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Colorado Pre-Licensing COURSE

Colorado Pre-Licensing:Taxes and Real Estate: What You Need to Know

Taxes and Real Estate: What You Need to Know

3 Total hours
0 Elective hours
3 Mandatory hours
In Colorado, this course is also approved under Rule A-27(B)(3), which allows real estate licensees to use the course toward their pre-license requirements necessary to become an Employing Broker.

While it’s not your job to act as a tax advisor to clients and customers, having a strong understanding of property tax-related issues likely to come up during the transaction process helps you provide a better quality of service. And, thanks to the Tax Cuts and Jobs Act of 2017, the U.S. tax code recently underwent a number of significant changes relating to mortgage interest deductions, SALT caps, tax brackets, and more.

This three-hour course provides an overview of property-related tax issues to help consumers become better aware of the tax implications of buying, owning, and selling property.

Course highlights include:

  • An overview of key changes resulting from the Tax Cuts and Jobs Act of 2017
  • A look at general tax sources and taxable income
  • An examination of the differences between a principal and secondary residence
  • A review of how recent tax bracket changes can affect affordability
  • A look at point and fee deductions, interest deductions, and refinancing deductions
  • A review of some common tax deductions associated with owning a property, including property taxes, homeowner’s insurance, and mortgage insurance
  • A discussion of the recent changes relating to SALT caps
  • An overview of transfer taxes and recording fees
  • A look at capital gains and losses, property repairs and capital improvements, and capital gain taxation rates and rules
  • Interactive activities and scenarios to seal in the new information and frame it in everyday context