The TCJA Changes Some Rules for Deducting Pass-Through Business Losses

TCJA-changes-deducting-pass-through-business-losses

It’s common for businesses to sometimes generate tax losses. But the losses that can be deducted are limited by tax law in some situations. Beginning in 2018. the Tax Cuts and Jobs Act (TCJA) adds restrictions to the amount of losses that sole proprietors, partners, S corporation shareholders and, typically, limited liability company (LLC) members […]