Passive Loss and At-Risk Rules 2022 ON DEMAND

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 Section 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. This instructive course aims to understand and solve client problems under Section 469, with emphasis on tax savings ideas. Participants will learn to master the proper administration of these complex and often cumbersome provisions.

Highlights

Passive loss rules. Material participation. Activity definition. Passive and non-passive activities. Passive activity loss. Rental activities. Recharacterization of passive income. Passive activity credits. Passive activity audit guide. At-risk limits.

Prerequisites

None.

Designed For

CPAs and other tax professionals.

Objectives

Identify affected taxpayers, categories of income and loss, and passive losses under Section 469 and

Preparation

None.

Notice

None.