Loss Limitations – A Mechanical Review (LLM1)
Provider: Surgent Accounting and Financial Education
Taxes
1 CPE Credits
Intermediate
QAS self study
IRS EA Federal Taxation
Owners of S corporations and partnerships are subject to various limitations on pass-through losses, each with unique rules, applications, and complexities. As many businesses are reporting losses as a result of COVID-19, it is essential for tax practitioners to understand the mechanical aspects of each limitation and how they coordinate to provide effective planning for loss utilization in future periods.