Description
Many tax clients with losses from their S corporations, partnerships, and multiple-member LLCs treated as partnerships will want to use these losses to offset their other income from other sources. This program explains when, why, and how the at-risk rules apply to allow or to prevent the owner of a pass-through entity from taking a loss from a pass-through entity and using it to offset other income. This program is extremely helpful for anyone with pass-through entity clients.
Highlights
- Basis and at-risk basis
- How to calculate the amount of annual at-risk basis
- Forms 6198 and 7203
- When activities may be aggregated for at-risk purposes
- Qualified nonrecourse financing
Objectives
- Understand how a client determines his or her at-risk basis in his or her pass through entity
- Understand how the at-risk basis calculation differs from a regular basis calculation
- Calculate the amount of an investor's annual at-risk basis
- Understand the structure of IRS Form 6198 and how it relates to calculating a taxpayer's at-risk basis
Designed For
Any tax practitioner wishing to understand the at-risk rules and how they apply to losses allocated to the owners of pass-through entities
Course Pricing
WYOCPA Member Fee
$89.00
Non-Member Fee
$116.00
Your Price
$116.00
Upcoming Courses
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Internal Control - Testing for Operating Effectiveness
April 30, 2024
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IRS Case Roadblocks
April 30, 2024
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Walter Haig's SSARS Prep, Comp and Review Update
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