Loss Limitation Provisions Applicable to Non-C Corporation Taxpayers (LLNC)

Tax practitioners advising business clients must know the multiple loss limitation rules that apply to individuals operating businesses and pass-through entities. This program covers the loss limitation provisions from hobby loss rules to basis limits, at-risk rules, passive loss limits, excess business loss limits, net operating losses and the §163(j) interest limitation.

Panelists are subject to change.

• Hobby loss limitation
• How to calculate a partner or S corporation shareholder’s basis
• Form 7203 and an S corporation shareholder’s basis
• The at‑risk basis rules and Form 6198
• The passive activity loss limits
• The §461(l) loss rule
• The net operating loss limitation rules
• The §163(j) Business Interest Limitation

• Understand the various loss limitation rules applicable to individuals and pass-through entities
• Understand how the partner/S corporation shareholder’s basis impacts the ability to take losses from a pass-through entity