Print Page   |   Your Cart   |   Sign In   |   Join
(FTL4) Surgent's Four Tiers of Loss Limitations: A Guide to the New Rules for Pass-through Entities
View Registrations Tell a Friend About This EventTell a Friend
 

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.

5/22/2020
When: 05/22/2020
7:00 AM
Where: Webcast
SURGENT
FTL4-2020-01-WEBNR-143-01
United States
Presenter: Michael Frost, CPA


Online registration is closed.
« Go to Upcoming Event List  

Acronym FTL4
CPE 4
Vendor Surgent
Category
Taxes (4)
Level Intermediate
Yellow Book? No
Registration Fees
Members* $139
Non-Members $159

*The Member rate applies to UACPA members and reciprocal state society members. To register online, use the ‘Register’ button above. To register by phone, call the UACPA at 801-466-8022, Monday through Friday, 8am to 4pm.

Course Description

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.

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

Major Topics

  • 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))

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.

Prerequisite: Basic familiarity with loss allowance rules of pass-through entities

Note: Login instructions will be provided by the webcast vendor.

Membership Management Software Powered by YourMembership  ::  Legal