eLearning

Passive Loss Rules

Price: $224 eLearning

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DESCRIPTION

This course describes in detail the application of the passive loss rules to losses and credits from investments in passive activities. Covered topics include identifying taxpayers subject to the passive loss rules, the application of the material participation standard in determining whether an activity is passive, the per se passive rental activity rule, rules relating to grouping activities, and the use of passive losses to offset nonpassive gains and income.

Educational Objectives:
• Determine which entities are taxpayers for purposes of applying the passive loss rules
• Apply the different tests that determine material participation
• Identify passive activities
• Determine when an owner materially participates in a business
• Identify exceptions to the general rule that rental activity is per se passive
• Determine the need for identifying separate activities and identify limitation on grouping certain activities together
• Examine circumstances in which passive losses may be used to offset non-passive gains or income.