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Owners of S corporations and partnerships are subject to numerous limitations on pass-through losses, each with unique rules, applications, and complexities. With the increase in popularity of pass-through business entities, it is essential for CPAs to understand the complexities and interactions of these pass-through loss limitations. 

Learning Objectives:

-Analyze how basis in an ownership interest in a pass-through entity is established

-Discuss how activity of the entity, distributions, and optional adjustments increase or decrease basis

-Discuss when basis is “at risk” under Section 465, and the resulting loss disallowance and carryforward related to basis that is not at risk

-Define passive activities under section 469 and exceptions to the passive loss rules

-Discuss when and how aggregation of activities should be used to avoid the passive loss rules

-Analyze new §461(l) created by the Tax Cuts and Jobs Act of 2017 and understand the limitation calculation and resulting carryforward

-Analyze the hierarchy of the loss limitations with examples of the application of the four tiers of losses and how they interact 

Designed For: Experienced practitioners who desire a refresher on loss limitations and an analysis of the new rules. Inexperienced practitioners who desire to learn the basics of all four pass-through loss limitations and their interactions in one course.

This virtual seminar is being offered through our partnership with Midwest State CPA Societies. You will launch from your MyOSCPA learning center day of and be prompted to enter in name and state society at time of entering.

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