Business Losses: Going Backward and Forward

The TCJA made turning business losses into tax refunds far more difficult. The CARES Act suspended and modified many of these changes. This course will address the revised rules for deducting business losses and discuss planning ideas and potential pitfalls.

**Please Note: If you need credit reported to the IRS for this IRS-approved program, please download the IRS CE request form on the Course Materials Tab and submit to kori.herrera@acpen.com.

Learning Objectives

Apply recent legislative developments and deducting business losses and amending returns
Identify planning ideas and potential pitfalls

Major Topics

Recent legislative developments for deducting business losses
TCJA net operating losses rules of §461(l)
§163(j) Business Interest Expense
Limitations of deducting losses and basis
What is the “quickie” refund; Section 465
At-Risk amount
Section 469 Passive Activity Loss rules

CPE Credits Available

2 CPE Credits

2: Taxation

Things to Know About This Course

Course Level

Intermediate

Prerequisites

Basic working knowledge of business taxation

Advanced Preparation

None

Intended Audience

CPAs and members working in industry seeking a broader understanding of calculating and reporting business losses

February 23, 2026