Loss Limitations – Passive Activity Losses and At-Risk Basis  

This course will discuss the complicated interplay of IRC Sec. 469 (passive activity loss limitations) and IRC Sec. 465 (at-risk basis limitations). You will learn to apply the at-risk rules at the individual taxpayer level, whether the at-risk activity is a Schedule C, Schedule F, or through a pass-through activity (e.g. partnership). This will include an in-depth discussion of debt, including recourse, nonrecourse, and qualified nonrecourse debt. The course will also consider loss carryforwards and the potential for recapture of negative at-risk amounts.

NOTE: The IRS RTRP Program has been replaced with a new, voluntary “IRS Annual Filing Season Program.” The AFSP Program requires that CE Sponsors continue collecting PTINs from IRS professionals who wish to receive IRS credit. CE Sponsors will then be able to report course completions for the PTIN holders who have provided this information. Therefore, all IRS PTIN holders (including Enrolled Agents) should enter their IRS PTIN into Checkpoint Learning so that course completions can be reported to the IRS. You do not need to enter your PTIN for each course you take; you only need to add it once. If you have any questions on how to do this, please contact us 800-231-1860.

THIS WEBINAR IS NOT ELIGIBLE FOR CTEC CREDIT.