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Surgent's Guide to Understanding the At-Risk Basis Rules and Form 6198

  • 08/30/2022
  • 12:00 PM - 2:00 PM
  • UARB-2022-01-WEBNR-242-01

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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.

Major Topics:

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

      Level: Intermediate

      Instructor: Mike Tucker, Ph.D., LL.M., J.D., CPA

      CPE Credits: 2

      Area of Study: Taxes (2)


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