Date: May 13th, 2026

Time: 2pm ET | 1pm CT | 12pm MT | 11am PT

Duration: 120 Minutes

Description:

Many taxpayers and even some practitioners  operate under a dangerous assumption: that business losses are freely and fully deductible in the year they occur. In reality, the U.S. tax code imposes four distinct, layered restriction mechanisms that can significantly reduce, defer, or permanently disallow those deductions. Missing even one layer of this analysis can result in incorrect return preparation, costly IRS adjustments, and missed planning opportunities for clients.

This instructor-led continuing education course delivers a comprehensive, technically precise breakdown of the four key tax loss limitation rules Basis Limitations, At-Risk Rules, Passive Activity Loss Rules, and the Excess Business Loss Limitation — and demonstrates exactly how they interact with one another in real-world client scenarios. Participants will leave with the technical fluency and practical tools needed to correctly apply each limitation, identify planning opportunities within each layer, and advise clients with confidence on structuring their affairs to maximize deductible losses within the boundaries of the law.

The stakes have never been higher for getting loss limitations right. The One Big Beautiful Bill (OBBB), enacted July 4, 2025, made the Excess Business Loss limitation under IRC §461(l) permanent, expanded its reach, and modified how it interacts with Net Operating Loss (NOL) carryforward rules. Combined with the existing complexity of basis, at-risk, and passive activity rules, practitioners now face a more intricate loss limitation landscape than ever before. A single misapplication can cascade across multiple tax years  triggering penalties, triggering audits, and eroding client trust.

This course ensures you are fully equipped to handle that complexity with precision.

Topics Covered:

• Basis limitation rule application
• At-risk rule mechanics
• Passive activity and material participation standards
• Excess business loss limitation under IRC §461(l)
• OBBB implications for loss deductions

Learning Objectives:

• Identify and describe the four primary loss limitation rules affecting taxpayers.
• Explain how basis and at-risk provisions limit deductible business losses.
• Evaluate passive activity loss rules, including the standards for material participation.
• Interpret the excess business loss limitation under IRC §461(l).
• Apply strategic planning methods to sequence and optimize the use of loss limitations.

Credits and Other information:

• Recommended CPE credit – 2.0
• Recommended field of study – Taxes
• Session Prerequisites and preparation: None
• Session learning level: Basic
• Location: Virtual/Online
• Delivery method: Group Internet Based
• Attendance Requirement:  Yes
• Session Duration: 120 Minutes

Who Will Benefit:

• CPA
• Enrolled Agents (EAs)
• Tax Professionals
• Attorneys
• Other Tax Preparers
• Finance professionals
• Financial planners

About Our Speaker

Jason Dinesen , EA

President, Dinesen Tax & Accounting, P.C.

Jason Dinesen (LPA, EA) is an entrepreneur and tax expert. Jason brings over 15 years of experience helping individuals and businesses with accounting, bookkeeping, tax preparation, and business advisory in various industries. He has coached more than 200k+ accounting, taxes, and HR professionals on various topics of accounting, individual taxation, corporate taxation, and professional ethics. Jason has developed a strong following within the professional community for tax-related subjects. Jason is known for sharp tax interpretations, and he quickly brings his analysis of the latest tax updates and IRS guidance to the professional community.