Passive Activity & Hobby Loss Rules

Partner John Hoover will present a breakout session on "Passive Activity & Hobby Loss Rules" at the National Business Aviation Association (NBAA) Tax, Regulatory & Risk Management Conference this year in Orlando. This session will cover the passive loss and hobby loss limitations that can apply to business aircraft—especially those owned in a special purpose entity—with particular emphasis on the activity grouping rules, grouping elections, the Morton case and IRS audits.