Webcast: Guide to Understanding the At-Risk Basis Rules and Form 6198 (XSUARB117)
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Many tax clients with losses from their S corporations, partnerships, and multiple-member LLCs treated as partnerships will want to use these losses to offset their other income from other sources. This program explains when, why, and how the at-risk rules apply to allow or to prevent the owner of a pass-through entity from taking a loss from a pass-through entity and using it to offset other income. This program is extremely helpful for anyone with pass-through entity clients.

7/31/2017
When: 07/31/2017
12:00 PM until 2:00 PM
Where: Webcast
Surgent
UARB-2017-01-WEBNR-212-32
United States
Presenter: Mike Tucker, Ph.D., LL.M., J.D., CPA


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Acronym XSUARB117
CPE 2 hours
Vendor Surgent
Category
Taxation
Level Intermediate
Prerequisite A basic understanding of the tax rules relating to partner basis and S corporation shareholder basis
Adv Prep None
Yellow Book? No
Designed for Any tax practitioner wishing to understand the at-risk rules and how they apply to losses allocated to the owners of pass-through entities
Registration
Member $89
CPA Non-Member $114

The Member rate applies to LCPA members, other state society members, and non-CPA staff of LCPA members. To register online, use the ‘Register’ button above. To register by phone, call the LCPA Member Service Center at 800.288.5272 or 504.464.1040, Monday through Friday, 8am to 5pm.

Course Description

Many tax clients with losses from their S corporations, partnerships, and multiple-member LLCs treated as partnerships will want to use these losses to offset their other income from other sources. This program explains when, why, and how the at-risk rules apply to allow or to prevent the owner of a pass-through entity from taking a loss from a pass-through entity and using it to offset other income. This program is extremely helpful for anyone with pass-through entity clients.

Objectives

  • Understand how a client determines his or her at-risk basis in his or her pass through entity
  • Understand how the at-risk basis calculation differs from a regular basis calculation
  • Calculate the amount of an investor's annual at-risk basis
  • Understand the structure of IRS Form 6198 and how it relates to calculating a taxpayer's at-risk basis

Topics

  • Basis and at-risk basis
  • How to calculate the amount of annual at-risk basis
  • How to prepare Form 6198
  • When activities may be aggregated for at-risk purposes
  • Qualified nonrecourse financing