The §465 At-Risk Rules: Important Concepts

Learning objectives: After completing this course, you will be able to:

• Differentiate between the basis rules and the at-risk rules.
• Determine a taxpayer's amount at risk on Schedule K-1 of a flow-through entity's income tax return.
• Identify when a guarantee of partnership debt provides the guarantor with an amount at risk and when it does not.
• Determine whether nonrecourse debt used to acquire real property meets the qualified nonrecourse debt requirement necessary to include the debt in a partner's amount at risk.
• Ascertain when aggregation of activities is permissible to use an excess amount at risk from one activity to increase a shortfall in an amount at risk of a loss generating activity.

Program description: The program begins with the at-risk rule basics and how to compute and report a taxpayer's amount at-risk. The program then addresses: (1) the impact of debt guarantees; (2) borrowing from someone who has an interest in an activity other than as a creditor; (3) what is the activity of holding real property for purposes of classifying nonrecourse debt as "qualified nonrecourse debt"; and (4) when activities can be aggregated.
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Program level: Basic. Is of value to any tax professional who provides services in the flow-through arena.

Program prerequisites: None

Advance preparation needed: None

Delivery method: QAS (Quality Assurance Service) Self-Study

CPE credits: 3.0 credit hours (see details on registration page)

CLE credits: Each state has its own Continuing Legal Education (CLE) credit requirements. Tax Forum has not applied for CLE credit in any state for its Self-Study programs. No assurance can be provided that any Self-Study program will qualify for CLE credit in a state. If you require CLE credit, we suggest you contact the applicable state bar association (or other governing body) on how you may request CLE credit for attending one of Tax Forum’s Self-Study programs.

Recommended field of study: Taxes

Course registration: https://taxforums.ce21.com/item/the-465-atrisk-rules-important-concepts-qas-study-437573

Refund policy: There are no refunds or cancellations.

Version Date: 1/2/24, Reviewed by Michael J. Cohen.

Complaint resolution policy: Complaints are resolved by calling 800-286-4760 or emailing support@taxforums.com

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Tax Planning Forum LLC is registered with the National Association of State Boards of Accountancy (NASBA), as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsorts may be submitted to the National Registry of CPE Sponsors through its website.