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Four Tiers of Loss Limitations: A Guide to the New Rules for Pass-Through Entities

When
July 25
12:30 - 4:00 p.m.

Where
Regional Learning Alliance
Cranberry - Map it

CPE Credits
4-Tax

Details

 Pricing

PICPA Member: $139 | Nonmember: $189

CLE Credit Add-On: $25


 More Information

Course No.
765500
Level
Intermediate
Prerequisites
Basic familiarity with loss allowance rules of pass-through entities

Description

Understand the essentials to deal with the complexities and interactions of pass-through loss limitations. Get an in-depth review of the four tiers of loss limitations, including analyzing how basis in an ownership interest in a pass-through entity is established, how activity of the entity, distributions, and optional adjustments increase or decrease basis, when basis is "at-risk" under section 465, and when and how aggregation of activities should be used to avoid the passive loss rules.

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))


Speaker(s)

Edward A. Harter, CPA

Edward A. Harter is a general practitioner in Canton, Ohio, who provides accounting and tax services to his clients.

Harter has been a partner in a multi-office firm with ten partners, a one-office firm with two partners, and a sole practitioner with only one support person. He has instructed CPE programs for 39 years and has presented CPE in all 50 states with consistent “excellent” ratings from program participants. He is continually commended for his ability to reduce complicated tax concepts to understandable English with his “real world” examples. In addition, he has held a number of leadership positions in The Ohio Society of CPAs.

Harter is a graduate of Kent State University.


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