Section 469 Passive Activity Loss Limitation Rules for Individual Taxpayers: Loss limitations, Ordering Rules and Utilizing Losses After Tax Reform
Substantiating Material Participation, Calculating Carryforwards, Reporting Dispositions, Qualifying as a Real Estate Professional
A live 110-minute CPE webinar with interactive Q&A
The webinar will provide tax advisers with a thorough and practical guide to navigating the passive activity loss (PAL) limitation rules, calculating PAL amounts and carryforwards, and the effect of tax reform on loss utilization. The panel will discuss the separate calculations required and describe the interrelationship between the at-risk rules and the PAL regulations, with a particular focus on real estate activities.
Outline
- Passive activity rules of IRC Section 469 and regulations
- Material participation rules
- Active participation for real estate
- Real estate professional standards
- Form 8582
- Disposition of passive activity investments
Benefits
The panel will discuss these and other important topics:
- Activities that are primarily passive
- Active vs. passive distinction in real estate activities
- Material participation test
- Real estate "active participation" test
- Substantiating active participation under the tests
Faculty
Robert S. Barnett
Partner
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.
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John H. Skarbnik
Professor of Taxation, Fairleigh Dickinson University; Tax Counsel
McCusker Anselmi Rosen & Carvelli
Mr. Skarbnik is full professor in the University’s Masters in Taxation Program. In his law practice, he... | Read More
Mr. Skarbnik is full professor in the University’s Masters in Taxation Program. In his law practice, he concentrates on corporate, shareholder, tax, and trusts and estates law and brings additional expertise as a certified public accountant. He handles estate planning, estate administration, business structuring, business purchases and sales, and other issues involving individual and corporate taxation, and estate and gift taxation. He also advises clients on the formation of limited liability companies, corporations, partnerships, and Subchapter S and C corporations, among other entities, across a wide range of industries and professions. He often gives presentations before tax professionals and also writes frequently in legal and tax publications.
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Elizabeth Yablonicky
Senior Counsel
Johnson Moore
Ms. Yablonicky has over 15 years of experience in federal and international tax dispute resolution. She advocates for... | Read More
Ms. Yablonicky has over 15 years of experience in federal and international tax dispute resolution. She advocates for taxpayers facing IRS adjustments at appeals and in federal courts. Ms. Yablonicky starts by consulting with taxpayers to understand their values, goals, and the facts leading to the dispute with the IRS, then researches and applies the legal support for their tax return positions in protests and court filings. She has taught tax research and business law courses at Loyola University Chicago School of Law.
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