Passive Loss and At-Risk Rules Overview
With the adoption of the passive loss limitation rules, taxpayers are looking to CPAs for guidance related to what deductions are allowed, disallowed, or suspended. Updating practitioners on the practical aspects of §469, this course addresses the needed skill to handle these pragmatic issues. Fundamentals are reviewed, planning opportunities are identified, and creative strategies are discussed and evaluated along with remaining traditional approaches. The goal of this instructive course is to understand and solve client problems under §469, with emphasis on tax savings ideas. Participants will learn to master the proper administration of these complex and often cumbersome provisions.

Course Publication Date: April 24, 2018

This course is available with NO ADDITIONAL FEE if you have an active self study membership or can be purchased for $20.00!

Author:Danny Santucci
Course No:TAX-PAS-5318-M
Recommended CPE:2.00
Delivery Method:QAS Self Study
Level of Knowledge:Overview
Prerequisites:General understanding of federal income taxation
Advanced Preparation:None
Recommended Field of Study:Taxes
  
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Learning Objectives
  • Identify affected taxpayers, categories of income and loss and passive losses under §469 and necessary §469 calculation steps and specify the §469 & §1211 limits and the ordering and suspension of any disallowed losses.
  • Recognize a taxpayer’s material participation in an activity by identifying the material participation tests and their application to entities such as partnerships and corporations.
  • Recognize a taxpayer’s material participation in an activity by specifying the activity grouping rules noting exempt activities.
  • Recognize a taxpayer’s material participation in an activity by determining passive activity particularly, the treatment of rental activity as passive.
  • Recognize a taxpayer’s material participation in an activity by identifying “nested” activities.
  • Identify special passive loss rules and calculations by determining alternating use affects on amount realized and adjusted basis and citing additional loss limitations outside of §469.
  • Identify special passive loss rules and calculations by recognizing requirements for the special $25,000 allowance.
  • Identify special passive loss rules and calculations by specifying recharacterization rules and their purpose.
  • Recognize the passive activity audit guidelines identifying audit issues, determine the real estate rental activity credit exception, and cite the at-risk limit rules as they relate to §469.

CPE Depot Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

Sponsor Number: 109423

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