IRC Section 461(l) Business Loss Limitations: New Form 461
Note: CLE credit is not offered on this program
Recording of a 110-minute CPE webinar with Q&A
This course will explain how to calculate losses under new Section 461(l) and report these losses on Form 461. The panel will discuss what is and is not trade or business income, capital gains and losses to include in the calculation, calculating loss carryforwards, and completing Form 461 with needed clarifications.
- Section 461(l)
- Calculating excess business losses
- Defining trade or business under 461(l)
- Capital gains and losses under 461(l)
- Carryforward calculations
- Completing Form 461
- Questions surrounding 461(l)
The panel will review these and other essential matters:
- How is excess business income calculated?
- What constitutes a trade or business under Section 461(l)?
- Which capital gains and losses are included on Form 461?
- What is reported on Lines 10 and 11 on Form 461?
Lydia Vercelli, CPA, TEP
Tax Managing Director
Ms. Vercelli is a CPA and a Registered Trusts and Estates Practitioner (TEP) with the Society of Trust and Estate... | Read More
Ms. Vercelli is a CPA and a Registered Trusts and Estates Practitioner (TEP) with the Society of Trust and Estate Practitioners, an international professional body of experienced and senior practitioners in the field of trusts and estates. She is also an active member of the New York State Society of Certified Public Accountants (NYSSCPA), and a current committee member of the Estate Planning and Personal Financial Planning Committees, where she is involved in the The Daily News Tax Panels in collaboration with the NYSSCPA. She is also a member of the American Institute of Certified Public Accountants (AICPA) and serves on the Georgetown University Alumni Admissions Program.Close
Fried Frank Harris Shriver & Jacobson
Mr. Zhang is a tax partner in Fried Frank's New York office. Prior to joining the firm in 2019, he was a tax... | Read More
Mr. Zhang is a tax partner in Fried Frank's New York office. Prior to joining the firm in 2019, he was a tax partner at Roberts & Holland LLP. He works on a diverse range of real estate, corporate, and international taxation matters. He represents real estate investment trusts (REITs) and other companies on tax-free reorganizations, spin-offs, cross-border joint ventures, complex leases, and other tax-efficient transactions. He also advises clients about tax credits, state and local transfer taxes, and qualified opportunity zones.Close
Access Anytime, Anywhere
CPE credit is not available on downloads.