Self-Study Course: Net Operating Losses - University of Illinois Tax School
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Scroll down for course details! Self-Study Course — Net Operating Losses

Tax professionals who rely exclusively on their tax preparation software to calculate NOLs may be making a mistake. To properly calculate and understand an NOL and therefore be able to advise clients as to the most beneficial opportunities for the use of an NOL requires tax professionals to comprehend the mechanics of NOLs, including how NOLs are calculated and what options may be available for taxpayers. There are also pitfalls associated with NOLs to be aware of. Tax professionals should be able to explain NOL-related choices to help their clients make good decisions for their particular circumstances. This self-study course presents detailed information about NOL options, how to calculate NOLs, carryback and carryforward rules, and adjustments that are made to NOLs.

(The date in the dropdown list above can be ignored.)

Self-study courses involve completing a pretest, watching a video, answering quiz questions inserted throughout the video, and successfully passing an exam with a score of 70% or better. Each course includes a set of materials that accompany the course presentation. Each course is reviewed annually to ensure the information is up-to-date with current tax law.

This course offers 2.0 CPE credits and qualifies for IRS credit and is NASBA QAS-approved for CPA credit in all states.

This course performs best utilizing a desktop or laptop computer.

Cost: $50.00. To register, add the self-study course to your cart by selecting the date in the dropdown menu in the above box. The course expires 1 year after your purchase. Your exam must be completed within 1 year of your purchase date.

Upon purchase, the transaction receipt that is provided via email will contain instructions to access the course. NOTE: The person purchasing this self-study course must be the same person taking the course and completing the exam.

For questions regarding refunds, registration policies, and resolving concerns, please see our Policies and Procedures page.

Tom O'Saben photoTom O'Saben has been an instructor for the Tax School since 2009. During that time, he has also been a presenter with the National Association of Tax Professionals, where he served as a Training Specialist developing curriculum, writing textbooks, and instructing at educational seminars. Tom's practice, established in 1991, provides tax services for approximately 1,000 clients. Tom earned his bachelor's degree from Southern Illinois University Edwardsville. He is an enrolled agent (EA).

Learning Objectives: By taking this self-study course, you will be able to:

  1. Identify circumstances that can result in an NOL.
  2. Recognize forms and schedules that contain information used to calculate an NOL.
  3. Calculate the NOL.
  4. Analyze how to maximize use of the NOL for the client's benefit.
  5. Identify how pass-through entities handle NOLs.

CPE Credits (qualifies for IRS): 2.0. Final exam must be passed with a score of 70% or better.

Delivery Method: QAS self-study (online self-study)

Program Level: Overview

Field of Study: Taxes

Prerequisite(s): Professional experience preparing and amending federal tax returns.

Materials: Upon purchase, the transaction receipt that is provided via email will contain instructions to access the course materials.

Advance Preparation: None

Please see the CPE FAQ for more information.

Last updated 8/4/2017 1:00:57 PM