Don Farmer's Loss Limitations: §461(l), Basis, At-Risk & PAL Coordination (2 hours - late morning) - Webcast
Overview
This course provides a comprehensive framework for navigating the multiple loss limitation regimes applicable to business and investment activities. Participants will learn the correct sequencing and coordination of basis, at-risk, passive activity, and excess business loss rules. The course emphasizes compliance accuracy and planning strategies to maximize allowable losses.
Highlights
- Overview of Federal Loss Limitation Framework
- Order and Coordination of Loss Limitation Rules
- Excess Business Loss Rules Under IRC §461(l)
- Basis and At-Risk Limitations
- Passive Activity Loss (PAL) Rules
- Loss Carryforwards and Release Events
- Compliance and Reporting Considerations
Designed For
CPAs and tax professionals
Objectives
- Identify and apply the correct order of loss limitation rules
- Analyze §461(l) excess business loss limitations
- Coordinate basis, at-risk, and PAL restrictions
- Evaluate loss carryforward and release events
- Avoid common reporting and sequencing errors
Leader(s):
Leader Bios
Nicholas Preusch, Don Farmer Tax Education
Nick Preusch, CPA, J.D., LL.M., MSA, has a primary focus of performing tax services relating to emerging issues and complex tax transactions. He works closely with businesses and individuals to find tax efficiencies through ever-changing tax legislation.
Nick started his career with the Internal Revenue Service (IRS) as a revenue agent, and then as an attorney at the IRS National Office in Washington, D.C., where he was the lead attorney for several significant tax ethics cases.
Nick co-authored Tax Preparer Penalties and Circular 230 Enforcement, a textbook published by Thomson Reuters. He has also been published in the AICPA's Tax Advisor and Journal of Accountancy along with CCH's Journal of Tax Practice and Procedure. In 2017, he was named one of the VSPCA's Top 5 Under 35. In 2018, he was named to CPA Practice Advisor's Top 40 Under 40. In 2018, he was part of the AICPA's New Face of Tax ad campaign. Nick has been a member of the AICPA's Tax Practice Responsibilities Committee, Tax Executive Committee and Professional Ethics Executive Committee.
(4/15/26)
Non-Member Price $109.00
Member Price $89.00