Form 461 — Limitation on Business Losses

Official source: IRS Forms, Instructions & Publications (https://www.irs.gov/pub/irs-pdf/f461.pdf), retrieved 2026-10-03. U.S. Government work (17 U.S.C. § 105).

---

Form

Department of the Treasury Internal Revenue Service

Attach to your tax return.

Go to www.irs.gov/Form461 for instructions and the latest information.

OMB No. 1545-0074

Attachment Sequence No. 64

Name(s) shown on return Identifying number

Total Income/Loss Items Part I See instructions if you are filing a tax return other than Form 1040 or 1040-SR.

Adjustment for Amounts Not Attributable to Trade or Business Part II See instructions if you are filing a tax return other than Form 1040 or 1040-SR. 10 Enter any income or gain reported on lines 1 through 8 that is not attributable to a trade or business . 10 11 Enter any losses or deductions reported on lines 1 through 8 that are not attributable to a trade or business. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . 11 12 Subtract line 11 from line 10 . . . . . . . . . . . . . . . . . . . . . . . . . 12

Part III Limitation on Losses

13 If line 12 is a negative number, enter it here as a positive number. If line 12 is a positive number, enter it here as a negative number . . . . . . . . . . . . . . . . . . . . . . . . . 13 14 Add lines 9 and 13 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 15 Enter $313,000 (or $626,000 if married filing jointly) . . . . . . . . . . . . . . . . . 15 16 Add lines 14 and 15. If less than zero, enter the amount from line 16 as a positive number on Schedule 1 (Form 1040), line 8p. See instructions if you are filing a tax return other than a Form 1040 or 1040-SR 16

For Privacy Act and Paperwork Reduction Act Notice, see the separate instructions. Cat. No. 16654I Form 461 (2025) Created 2/26/25