The 163(j) Interest Deduction Limitation

Course Details

Date

Tuesday, November 19, 2019

8:30am – 12:00am
(Registration: 8:00am)

Field of Study

Taxation

Course Number

4193859F

CPE Credit

4.0 hours CPE credit

Level of Knowledge

Intermediate

Vendor

CalCPA Education Foundation

Prerequisites

General knowledge of taxation.

Description

This course will focus on how the 2017 TCJA business interest expense deduction limit (§163(j)) will impact domestic entities and their owners.  While C corporations will be discussed, the course will primarily focus on the special computational and reporting rules that apply to domestic S corporations, S shareholders, domestic partnerships, individual partners, and corporate partners.  The treatment of partnerships and partners will be emphasized.

Highlights

  • Determining when the entity or owners are subject to the 163(j) limit.
  • The gross receipts test and the daunting aggregation rules.
  • When and how to elect out for real estate T-Bs and farmers.
  • The computation of adjusted taxable income.
  • Special rules for S corporations and partnerships explained with numerous examples.
  • Partner and S shareholder level considerations with several examples.
  • K-1 reporting requirements for S corporations and partnerships.
  • Discussion of IRS Form 8990 and the additional reporting required of partnerships.

Objectives

Identify the special computational and reporting rules that apply to domestic S Corporations, S shareholders, domestic partnerships, individual partners, and corporate partners.  Special allocation tactics for partners will also be explored.

Designed For

CPAs and lawyers.

Course Pricing

Member Fee

Applicable if you are a HSCPA member in good standing.

$120.00
Non-Member Fee

Applicable if you are not a HSCPA member.

$188.00
Your Price $188.00

CPE Choice

Learn more about CPE Choice.
This course does not qualify for CPE Choice.

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