Passive Activity Loss Reporting: Strategies for Pass-Throughs and Impact of New NII Tax Regulations
Leveraging Latest Federal Guidance and Rulings to Establish Material Participation
Recording of a 110-minute CPE webinar with Q&A
This course will provide accounting and tax advisors to pass-through entities with a thorough review of the latest passive activity loss guidance and the impact of the IRS final regulations for net investment income tax (NIIT) reporting. The panel will prepare advisors to maximize permissible use of passive losses.
- Overview of federal passive activity loss rules, including new NIIT regulations
Latest developments, including new investment activity tax impacts
- Real Estate professional
- Estate and Trust considerations
- Material participation by LPs and LLC members
- Practical issues from compliance work and audits
The panel will review the state of passive activity loss rules and significant developments, including:
- Opportunities with the new NIIT for taxpayers utilizing passive activities, and what should be done this year.
- Implications of the proposed regulations on the definition of an “interest in a limited partnership as a limited partner” for purposes of determining material participation in an activity under Sect. 469.
- The seven tests for proving material participation in a passive entity and reconciling conformity issues for passive losses under conflicting state tax regs.
- The impact of the NIIT final regulations for tax planning and reporting for clients with passive activity losses and income.
Robert S. Barnett, CPA
Capell Barnett Matalon & Schoenfeld
Mr. Barnett’s practice is highly concentrated in the areas of taxation, trusts, estates, corporate and... | Read More
Mr. Barnett’s practice is highly concentrated in the areas of taxation, trusts, estates, corporate and partnership law and charitable planning. His experience includes surrogate’s court practice, tax dispute resolution in both federal and state jurisdictions, and tax court representation. Mr. Barnett frequently assists clients in structuring financial transactions and charitable gifts. His articles and lectures encompass a wide variety of topics, including business succession, estate planning, generation-skipping, stock options, effective strategies for removing tax liens, proper utilization of the marital deduction and utilization of partnership elections.Close
Michala P. Irons
Barnes & Thornburg
Ms. Irons assists individuals, businesses, and nonprofit organizations with federal tax planning. She previously... | Read More
Ms. Irons assists individuals, businesses, and nonprofit organizations with federal tax planning. She previously served as an attorney in the IRS Office of Chief Counsel in Washington, D.C. where she assisted the Treasury Department as a principal author of Treasury Regulations and other published guidance with respect to the taxation of partnerships (including LLCs), S corporations, trusts, and the passive activity loss and net investment income tax rules; provided field support to IRS attorneys, appeals officers, and revenue agents; and responded to practitioner and taxpayer inquiries.Close
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