Page 362 - Large Business IRS Training Guides

Impact of Section 461(l),

Limitation on Excess Business Losses

• Form 461, Limitation on Business Losses

• Losses and deductions disallowed by

reason of section 461(l) will not be included

in the QBI computation in the year incurred.

• Net operating loss attributable to section

461(l) allowed in a subsequent year must

reduce QBI in the year the NOL is

deductible.

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