Surgent's Restrictions on Non-Corporate Business Losses After Tax Reform (NCBL)

Course Details

Date

Wednesday, December 4, 2019

4:00am – 6:00am

Field of Study

Taxation

Course Number

SU0548

CPE Credit

2.0 hours CPE credit

Level of Knowledge

Basic

Vendor

Surgent McCoy CPE, LLC

Prerequisites

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

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.

Highlights

  • 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

Objectives

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

Designed For

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

Course Pricing

Member Fee

Applicable if you are a HSCPA member in good standing.

$89.00
Non-Member Fee

Applicable if you are not a HSCPA member.

$119.00
Your Price $119.00

CPE Choice

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

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