Don Farmer's Loss Limitations: §461(l), Basis, At-Risk and PAL Coordination
Online
2.00 Credits
Member Price $89.00
Non-Member Price $109.00
Overview
This course provides a comprehensive framework for navigating the multiple loss limitation regimes applicable to business and investment activities. Participants will learn the correct sequencing and coordination of basis, at-risk, passive activity, and excess business loss rules. The course emphasizes compliance accuracy and planning strategies to maximize allowable losses.
Objectives
- Identify and apply the correct order of loss limitation rules
- Analyze §461(l) excess business loss limitations
- Coordinate basis, at-risk, and PAL restrictions
- Evaluate loss carryforward and release events
- Avoid common reporting and sequencing errors
Highlights
- Overview of Federal Loss Limitation Framework
- Order and Coordination of Loss Limitation Rules
- Excess Business Loss Rules Under IRC §461(l)
- Basis and At-Risk Limitations
- Passive Activity Loss (PAL) Rules
- Loss Carryforwards and Release Events
- Compliance and Reporting Considerations
Prerequisites
None
Preparation
None
Notice
By registering for this program and, accordingly, receiving the eMaterials, you’re acknowledging that you understand both the copyright restrictions on your eMaterials and the CTCPA cancellation policy.
Leader(s):
Leader Bios
Nicholas Preusch, CPA, JD, LLM, MSA, Don Farmer Tax Education
Nick Preusch, CPA, J.D., LL.M., MSA, has a primary focus of performing tax services relating to emerging issues and complex tax transactions. He works closely with businesses and individuals to find tax efficiencies through ever-changing tax legislation.
Nick started his career with the Internal Revenue Service (IRS)as a revenue agent, and then as an attorney at the IRS National Office in Washington, D.C., where he was the lead attorney for several significant tax ethics cases.
Nick co-authored Tax Preparer Penalties and Circular 230Enforcement, a textbook published by Thomson Reuters. He has also been published in the AICPA’s Tax Advisor and Journal of Accountancy along with CCH’s Journal of Tax Practice and Procedure. In 2017, he was named one of the VSPCA’s Top 5Under 35. In 2018, he was named to CPA Practice Advisor’s Top40 Under 40. In 2018, he was part of the AICPA’s New Face of Tax ad campaign. Nick has been a member of the AICPA’s Tax Practice Responsibilities Committee, Tax Executive Committee and Professional Ethics Executive Committee.
Non-Member Price $109.00
Member Price $89.00