$100 – Members (with member discount code)
$125 – Non-Members
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PROGRAM DESCRIPTION: Loss Limitations: Basis, at-Risk, and Passive Activity Rules
IRS Program: QSRNU-T-00667-24-O
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.
Learning Objectives:
- Review the interconnections between passive activity loss limitations and at-risk basis limitations
- Learn how to apply at-risk rules at the individual taxpayer level
- Learn about the character and treatment of recourse, nonrecourse, and qualified nonrecourse debt
- Consider loss carryforwards and potential for recapture of negative at-risk amounts
Participants earn up to 2.0 CE/CPE credits.
Prerequisites: Basic knowledge of federal taxation in the U.S.
Program Level: Basic/Intermediate
ABOUT THE PRESENTER
As a former senior manager, with a “big six” public accounting firm, Darryl has a vast array of experience in federal taxation of individuals, small businesses including partnerships, S corporations, closely held C corporations as well as large public companies. As a former college professor, he has an extensive background in teaching, researching, and writing about issues pertaining to the same areas of federal tax law including financial reporting and accounting for income taxes, and financial accounting, intermediate accounting, advanced accounting, financial statement analysis, and advanced corporate finance. In addition to his thirty years of tax practitioner experience and twenty years of tax and accounting teaching experience, Darryl is an Enrolled Agent (EA) and a Certified Public Accountant (CPA). Darryl’s academic pedigree includes a Bachelor of Science degree in Accountancy and a Master of Science in Taxation from Bentley College (now Bentley University); he holds a Master of Science in Accounting and a Ph.D. in Accounting and Taxation with a minor in Finance, from The University of Arizona. His vast background in both the practitioner and academic worlds permits him to deliver optimal solutions for his clients with a view toward maximizing after-tax cash flows. Darryl is an active member of the following professional organizations: NAEA, ISCPA, MSCPA, AICPA, ABA-Tax Section.
REFUND POLICY
Refunds will be honored if written notification is received at the Administrative Office within 5 business days of the webinar. A processing fee of $25 will be deducted from the refund. Cancellations within 5 business days of the webinar will not be accepted. Substitutions are allowed if received 48-hours prior to the start of the webinar. "No shows" forfeit their fees.
CANCELLATION
VASEA reserves the right to cancel any program or course for circumstances that are not under direct control of VASEA. If a course or program is cancelled, registrants will be notified via email at the address listed on their registration form.
COMPLAINT RESOLUTION
For more information regarding refund, cancellation and complaint policies, please contact VASEA Administrator at admin@vasea.org.
Questions
Contact the VASEA Administrator at admin@vasea.org
