Surgent's Guide to Understanding the At-Risk Basis Rules and Forms 6198 and 7203
Available Until
Self-study
2.00 Credits
Member Price $89.00
Non-Member Price $119.00
Overview
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.
Highlights
- 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
Designed For
Any tax practitioner wishing to understand the at-risk rules and how they apply to losses allocated to the owners of pass-through entities
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
Preparation
None
Notice
This is a self-study/on demand course offered by a 3rd party vendor and will NOT be accessible in the My Upcoming CPE section of the ISCPA website. Course access information will be emailed directly to you by Surgent Professional Education. The course expires one year from the purchase date. Format = on demand webcast to view with the course materials.
Non-Member Price $119.00
Member Price $89.00