Surgent's Guide to Understanding the At-Risk Basis Rules and Forms 6198 and 7203 - On-Demand Webcast

May 1st, 2024 - April 30th, 2025 @ -

Member Price	$89
Non-Member Price	$119
If you are a member, please login to activate member pricing.

Credits

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

Major Subjects

Basis and at-risk basis
How to calculate the amount of annual at-risk basis
Forms 6198 and 7203
When activities may be aggregated for at-risk purposes
Qualified nonrecourse financing

Prerequisites

A basic understanding of the tax rules relating to partner basis and S corporation shareholder basis