2024 Business Losses: Going Backward and Forward

Overview

The TCJA made turning business losses into tax refunds far more difficult.  The CARES Act suspended and modified many of these changes.  This course will address the revised rules for deducting business losses and discuss planning ideas and potential pitfalls. 

**Please Note:  If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to kori.herrera@acpen.com.

Objectives

• Apply recent legislative developments and deducting business losses and amending returns
• Identify planning ideas and potential pitfalls

Highlights

• Recent legislative developments for deducting business losses
• TCJA net operating losses rules of §461(l)
• §163(j) Business Interest Expense
• Limitations of deducting losses and basis
• What is the “quickie” refund; Section 465
• At-Risk amount
• Section 469 Passive Activity Loss rules

Designed For

CPAs and members working in industry seeking a broader understanding of calculating and reporting business losses

Prerequisites

Basic working knowledge of business taxation

Preparation

None

Notice

Your webinar can be accessed via https://ctcpas.acpen.com/Account/loginhttps://ctcpas.acpen.com/. If you do not have an ACPEN account, please sign up for an account using the email address you have on file with CTCPA.