Form 461 - Limitation on Business Losses

Form 461 and its separate instructions calculates the limitation on business losses, and the excess business losses that will be treated as net operating loss (NOL) carried forward to subsequent taxable years. In the case of a partnership or S corporation, the provision applies at the partner or shareholder level. This form will used by noncorporate taxpayers and will attached to a tax return (F1040, 1040NR, 1041, 1041-QFT, 1041-N, or 990-T).

The latest form for Form 461 - Limitation on Business Losses expires 2021-12-31 and can be found here.