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20SS-0151: Surgent's Four Tiers of Loss Limitations: A Guide to the New Rules for Pass-through Entities (Self-Study)

Valid for one year from purchase date
Self-study - On-Demand
4 CPE (4 technical)

If the organization paying for the purchase is exempt from sales tax, call us at 952-831-2707 to complete your purchase.

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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.

Major subjects

  • 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))

Learning objective(s)

  • 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 section 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

Who should take this program?

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.

Fees

Our records indicate you are a nonmember. If you register, you will be charged $89.00 (Standard Nonmember Fee). Members: Please log in to receive member fee.
Standard Member Fee $89.00
checkmark Standard Nonmember Fee $89.00

More program information

Area
of study
Taxation
Field(s)
of study
Taxes - Technical (4.0)
Level Intermediate
Format Self-study - On-Demand
Sponsor Surgent
NASBA ID#: 103212
Prerequisites Prereq. Basic familiarity with loss allowance rules of pass-through entities
Advance
prep
None

If the organization paying for the purchase is exempt from sales tax, call us at 952-831-2707 to complete your purchase.

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