Section 461(l): Loss Limitations After TCJA Webinar
Sep 14 9:00 - 12:30 p.m.
Online
4-Tax CPE Credits
The Tax Cuts and Jobs Act added Section 461(l) to the Internal Revenue Code, limiting losses previously available. To the extent a taxpayer has an “excess business loss” for the tax year under Section 461(l), that portion of the taxpayer’s overall loss becomes a net operating loss (NOL) carried forward to future tax years and subject to the new rules that govern NOL generated after 2017. Many owners of S corporations, partnerships, and limited liability companies are now subject to numerous loss limitation provisions. This program covers each loss limitation provision and how they relate to each other, focusing particular attention on Section 461(l). Highlights
How the new Section 461(l) loss limitation provisions work
The new net operating loss rules and how they relate to Section 461(l)
Threshold amounts for limitation
Determination of a taxpayer’s basis in a pass-through entity
Suspended losses and deductions due to basis limitations
How at-risk rules operate to limit loss deductions
Passive activity loss rules that suspend losses
Registration
PICPA Member: $169 Nonmember: $219
More Information
Course No.
S461-2019-01-WEBNR-257-01
Level:
Intermediate
Prerequisites:
Working knowledge of federal tax rules related to individuals and businesses
Speaker(s)
Michael Tucker
Surgent McCoy CPE LLC
Michael J Tucker, Ph.D., LL.M., J.D., CPA
Michael J. Tucker is an employee of Surgent McCoy CPE, LLC and a consultant
for the accounting firm of T.M. Byxbee Co. in Hamden, CT. He is the author of
many professional articles and a veteran TV and live-seminar presenter. In
addition, he heads up Surgent McCoy's webinar efforts, where he writes and hosts
many of the webinars Surgent McCoy sponsors and presents. Mr. Tucker was a
professor at Quinnipiac University in Hamden, CT and worked with KPMG Peat
Marwick and Deloitte & Touche. Mr. Tucker received his J.D. from New York
University, his LL.M. from Georgetown University Law Center, and his Ph.D. from
the University of Houston.