Do you desire to not be tripped up and held back by the passive activity loss, at-risk, basis, new excess business loss rule and newly revamped NOL limitation rules? This course will get you through the woods as unscathed as possible. And, how does the new §163(j) limit on business interest expense play in?
To instruct as to the tripling of complexity in loss limitation rules
* What is, and is not, a trade or business? Why do we care? Why can we not afford not to care? * All new excess loss limit rule – What exactly is “business income” anyway? * Newly revamped NOL rules – Fundamental game changers * Which comes 1st, 2nd, 3rd, 4th and so on? Basis, §163(j), at-risk, passive, excess loss? * Passive activity income and loss foundations, interplay, inseparability and separability * Must one build her (his or its) own spreadsheet to survive it all? * At-risk, basis limitation and NOL limitation structure and interplay * How loss limit rules interact with §199A * At-risk rules reinvention in the courts – But IRS never really finished the rules anyway * Why I want to be a real estate professional when I grow up? But, am I a pretender? * How will software vendors respond to recent layers? a/k/a Overrides, overrides, overrides and overrides * The age old intricate structure, all that’s new and how and why you can’t ignore either
Anyone desiring to gain an in-depth working knowledge of all of the old and new loss limitation rules