Self-Study

Surgent's Guide to Understanding the At‑Risk Basis Rules and Forms 6198 and 7203

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Many tax clients with losses from their S Corporations, partnerships, and multiple-member LLCs treated as partnerships will want to use these losses to offset their other income from other sources. This program explains when, why, and how the at-risk rules apply to allow or to prevent the owner of a pass-through entity from taking a loss from a pass-through entity and using it to offset other income. This program is extremely helpful for anyone with pass-through entity clients.

Major subjects

• Basis and at-risk basis.
• How to calculate the amount of annual at-risk basis.
• Forms 6198 and 7203.
• When activities may be aggregated for at-risk purposes.
• Qualified nonrecourse financing.

Learning objectives

• Understand how a client determines his or her at-risk basis in his or her pass through entity.
• Understand how the at-risk basis calculation differs from a regular basis calculation.
• Calculate the amount of an investor's annual at-risk basis.
• Understand the structure of IRS Form 6198 and how it relates to calculating a taxpayer's at-risk basis.

Who should take this program?

• Any tax practitioner wishing to understand the at-risk rules and how they apply to losses allocated to the owners of pass-through entities.

Pricing

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.

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