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Restrictions on Non-Corporate Business Losses After Tax Reform (NCBL) (SUNCBL02)

 
Date:Friday, August 30, 2019
Time:1:00 PM - 3:00 PM
(Registration at 12:30PM)
Facility:Webcast or Webinar, Online
CPE Credit:2.0 Technical Business
Instructor: Michael J. Tucker
Vendor:Surgent McCoy
Course Level:Basic
Early Bird Price:$89.00 FICPA Members, $119.00 Non-Members

Description:
The Tax Cuts and Jobs Act of 2017 provides that for taxable years beginning after December 31, 2017 and before January 1, 2026, "excess business losses" of a taxpayer other than a corporation are not allowed for the taxable year. This provision, a fourth loss limitation after basis, at-risk and passive activity loss limits, will come as a very unwelcome surprise to taxpayers expecting large loss deductions over the next eight years.

Objectives:
  • Help advise clients regarding the new limitations on deducting excess business losses


Major Topics:
  • What is an excess business loss
  • The $250,000/$500,000 annual loss limitation
  • Treatment of excess business loss carryovers
  • New net operating loss limitation provisions and their relationship to excess business losses


Who Should Attend:
Tax practitioners who anticipate advising clients with respect to taking losses from investments in the years 2018 through 2025

Prerequisite:
A basic understanding of the tax rules relating to individual income tax

Advanced Preparation:
None

Session/Options

If listed below, select the appropriate sessions or options to continue with your purchase.

Registration Status: CLOSED - Online registration for this course is now closed. Please contact the Member Service Center at (800) 342-3197 if you wish to inquire about registering.