CPE Course Surgent's Four Tiers of Loss Limitations: A Guide to the New Rules for Pass-Through Entities On-Demand Webcast

Location Webinar

Member Price $129.00
Non-member Price $159.00

Curriculum Taxation

Field of Interest

Level Intermediate

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.

Objective

  • 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

Highlights

  • Tier 1: Basis limitations for S corporation shareholders and partners
  • Tier 2: Section 465 at-risk limitations for S corporation shareholders and partners, including the impact of debt, indemnities, guarantees, and shareholder/partner agreements
  • Tier 3: Section 469 passive loss limitations and exceptions to the limitations
  • Tier 4: The new excess business loss limitation of the Tax Cuts and Jobs Act of 2017 (new Section 461(l))

Instructors

Prerequisites

Basic familiarity with loss allowance rules of pass-through entities

Developer

Surgent McCoy CPE, LLC

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