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This program covers the loss limitation rules that tax practitioners must know to advise their clients on when and if a loss limitation applies. It discusses various loss limitations including hobby loss rules, basis limits, at-risk rules, passive loss limits, excess business loss limits, net operating losses, and the Section 163(j) interest limitation. Knowing loss limits is essential for tax practitioners to provide comprehensive advice to their clients.

Major topics:\xa0

• How to calculate a partner or S corporation shareholder’s basis
• Form 7203 and an S corporation shareholder’s basis
• The at risk basis rules and Form 6198
• The passive activity loss limits
• The Section 461(l) loss rule
• The net operating loss limitation rules
• The Section 163(j) business interest limitation

Multiple dates are available for this course.

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