This QAS Self Study program is designed for tax professionals of all levels of experience and for people in the accounting and legal professions who would like a firm grounding in the at-risk rules of §465.

The program begins with the basics of the at-risk rules, distinguishing the differences between the basis rules and the at-risk rules and how Form 1065 K-1 is to be completed to reflect these differences.

The program then addresses: (1) the impact of debt guarantees; (2) borrowing from someone who has an interest in an activity other than as a creditor; (3) what is the activity of holding real property for purposes of classifying nonrecourse debt as "qualified nonrecourse debt"; and (4) when activities can be aggregated.