 The purpose of this course is to provide a discussion of passive losses. Topics discussed include: the Tax Reform Act of 1986, alternative minimum tax, the treatment of suspended losses, passthrough entities, California conformity, rental real estate and exceptions, AGI phaseout, passive activity credits, real estate professionals, tests for material participation, the single activity election, dispositions of passive activities, suspended credits, and much more.
With this 2-hour course, you will:
- Get an overview of passive loss rules
- How is passive loss determined?
- Treatment of suspended losses in subsequent years
- What is an activity?
- Grouping: the facts and circumstances test
- Grouping: the consistency requirement
- Passive losses from passthrough entities
- Find out about rental real estate
- See where California does not conform
- Learn about disposition of passive activities
- Dispositions of entire interests
- Fully-taxable transactions
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| Designation |
CPE Hours |
| CPA and PA |
2 Tax |
| EA and CRTP |
2 Fed Tax |
| CA Attorney |
1.5 General MCLE |
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This self-study is designed to meet the requirements for the specified number of hours of continuing education. This self-study has been designed to meet the requirements of the IRS Return Preparer Office; including sections 10.6 and 10.9 of Department of Treasury's Circular No. 230 (Provider No. CRA7E); the California State Board of Accountancy; the California Bar Association; and the California Tax Education Council. This does not constitute an endorsement by these groups. The state boards of accountancy have final authority on the acceptance of individual courses for CPE credit. For more information regarding administrative policies such as complaints or refunds, contact Spidell Publishing at 714-776-7850. A listing of additional requirements to renew tax preparer registration may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA 95812-2890, or by phone at 877-850-2832, or on the internet at www.CTEC.org.
 Spidell Publishing, Inc. 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 sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417. Web Site: www.nasba.org. This self-study is designed to meet the requirements for 2 hours of continuing education for the California Board of Accountancy. Basic Level. Field of Study: Taxes. Delivery method: Self-Study. For more information regarding administrative policies, such as complaints or refunds, contact Spidell Publishing at (714) 776-7850. There are no prerequisites or advanced preparation required.
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