# Enrolled Agent Exam [Part 2] 64, Excess Business Losses — §461(l)

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Text version: https://stenobird.com/podcast/finance-exam-prep-7658413/enrolled-agent-exam-part-2-64-excess-business-losses-461-l.md
Podcast: [Finance Exam Prep](https://stenobird.com/podcast/finance-exam-prep-7658413)
Published: 2026-06-30T22:41:20+00:00
Episode link: https://open-exam-prep.com/
Audio file: https://episodes.captivate.fm/episode/2842898d-5aa2-41d3-add9-b4a15060a13e.mp3
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Duration seconds: 228

## Resource

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - How to calculate an excess business loss using the inflation-adjusted thresholds for different filing statuses. - That any disallowed excess business loss is treated as a Net Operating Loss (NOL) carryforward to subsequent tax years. - The critical ordering rule: basis, at-risk, and passive activity loss limitations must be applied before the §461(l) limitation. - Why you must aggregate all trade or business income and losses before comparing the net amount to the annual threshold. - How the excess business loss limitation applies only to noncorporate taxpayers and is calculated on Form 461. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

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