This course addresses the practical aspects of Section 469 and the needed skill to handle pragmatic issues. Fundamentals are reviewed, planning opportunities identified, creative strategies discussed and evaluated along with remaining traditional approaches. The goal of this instructive program is to understand and solve problems under Section 469, with emphasis on tax savings ideas. Readers will overview the proper administration of this complex and often cumbersome provision.
Material Participation. Activity Definition. Passive and Non-passive Activities. Passive Activity Loss. Passive Activity Gross Income. Passive Activity Deduction. Passive Activity Credits. Items Received from Pass-through Entities. Interaction with Other Code Sections.
CPAs, financial professionals, enrolled agents and attorneys.
Recognize the broad impact of the Section 469 limitation provision. Specify the mechanics of the passive loss rules, recognize the impact of Section 469 to appropriate deductions, identify what type of income may be offset by passive losses and then, determine a passive loss. Identify passive losses under Section 469. Recognize the suspension of disallowed losses, identify ways to ultimately “free up” passive losses, specify the treatment of passive credits including potential basis adjustment, and determine a fully taxable disposition indicating the impact of related party transactions. Identify the impact and tax consequences of a fully taxable disposition (FTD). Identify which clients are or are not subject to the passive loss rules, and more.
Danny Santucci, Western CPE
Danny Santucci, BA, JD, is a prolific author of tax and financial books and articles. His legal career started with the business and litigation firm of Edwards, Edwards, and Ashton. Later he joined the Century City entertainment firm of Bushkin, Gaims, Gaines, and Jonas working for many well-known celebrities. In 1980, Danny established the law firm of Santucci, Potter, and Leanders in Irvine, California. With increasing lecture and writing commitments, Danny went into sole practice in 1995. His practice emphasizes business taxation, real estate law, and estate planning. Speaking to more than 100 groups nationally each year, he is known for spicing up his extensive expertise with an incredible sense of humor.
Non-Member Price $354.00
Member Price $308.00