Description
With the adoption of the passive loss limitation rules, taxpayers are looking to CPAs for guidance related to what deductions are allowed, disallowed, or suspended. Updating practitioners on the practical aspects of §469, this course addresses the needed skill to handle these pragmatic issues. Fundamentals are reviewed, planning opportunities are identified, and creative strategies are discussed and evaluated along with remaining traditional approaches. The goal of this instructive course is to understand and solve client problems under §469, with emphasis on tax savings ideas. Participants will learn to master the proper administration of these complex and often cumbersome provisions.
Learning Objectives
After reading the materials, participants will be able to:
1. Identify affected taxpayers, categories of income and loss, the impact of gifting passive property, and the ordering of passive losses under §469.
2. Recognize a taxpayer’s material participation in an activity by:
a. Identifying the material participation tests and their application to entities such as partnerships and corporations;
b. Specifying the activity grouping rules and exempt activities;
c. Determining passive activity, particularly the treatment of rental activity as passive; and
d. Identifying “nested” activities.
To complete this course participants need to: Read the material provided and answer chapter review questions, successfully complete the qualified assessment with a minimum of 70% accuracy to receive your certificate. Clicking on the Certificate link will show the course as 100% Complete
A course evaluation form is provided for your feedback and participants have 1 year from the date of purchase/enrollment to complete this course. .
Our Refund policy can be found at: https://cpeprime.com/cancellation-and-refund/
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