Surgent's Guide to Understanding the At-Risk Basis Rules and Form 6198

Tuesday, August 31 1:00pm - 3:00pm

(Check-In 12:30pm)

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2.00 Credits

Member Price $89.00

Non-Member Price $124.00

Overview

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
  • Form 6198
  • When activities may be aggregated for at-risk purposes
  • Qualified nonrecourse financing


Instructor Name: Mike Tucker, Ph.D., LL.M., J.D., CPA

Prerequisites

A basic understanding of the tax rules relating to partner basis and S corporation shareholder 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

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

Preparation

None

Notice

You will receive an email confirmation from info@surgent.commailto:info@surgent.com with your login instructions.

Non-Member Price $124.00

Member Price $89.00