Deciphering the New Loss Limitation Rules

Eric Yauch discusses a provision of the Tax Cuts and Jobs Act that hasn't received a lot of attention: section 461(l), which caps excess business losses at $250,000 for individuals and $500,000 for joint filers.

For more coverage in Tax Notes, see:

• New Loss Limitation Is on Government’s Radar
• New Loss Limitation Hard to Calculate, Interpret With Other Rules