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))
Registration
PICPA Member: $139 Nonmember: $189
More Information
Course No. 765500Level: Intermediate
Prerequisites:
Basic familiarity with loss allowance rules of pass-through entities
Speaker(s)
Edward Harter
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.