Understanding the Limits on Excess Trade and Business Losses - a podcast by Pennsylvania Institute of Certified Public Accountants

Following up on her thorough dissection of Section 163(j), Daria Palaschak, CPA, MST, returns to CPA Conversations to discuss more fallout from the Tax Cuts and Jobs Act of 2017. The limitation on excess trade and business losses presents many challenges to tax practitioners and taxpayers alike. Palaschak, a partner in the tax department of Sisterson in Pittsburgh, discusses how the loss limitation works, the entities affected, IRS Form 461, and more.

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