Form 461 Department of the Treasury Internal Revenue Service Limitation on Business Losses Attach to your tax return. Go to www.irs.gov/Form461 for instructions and the latest information. OMB No. 1545-0074 2025 Attachment Sequence No. 64 Name(s) shown on return Identifying number Part I Total Income/Loss Items See instructions if you are filing a tax return other than Form 1040 or 1040-SR. 1 Reserved for future use . . . . . . . . . . . . . . . . . . . . . . . . . . 1 2 Enter amount from Schedule 1 (Form 1040), line 3 . . . . . . . . . . . . . . . . . 2 3 Enter amount from Form 1040 or 1040-SR, line 7a. See instructions . . . . . . . . . . . . 3 4 Enter amount from Schedule 1 (Form 1040), line 4 . . . . . . . . . . . . . . . . . 4 5 Enter amount from Schedule 1 (Form 1040), line 5 . . . . . . . . . . . . . . . . . 5 6 Enter amount from Schedule 1 (Form 1040), line 6 . . . . . . . . . . . . . . . . . 6 7 Reserved for future use . . . . . . . . . . . . . . . . . . . . . . . . . . 7 8 Enter other income, gain, or losses from a trade or business not reported on lines 1 through 7 . . . 8 9 Combine lines 1 through 8 . . . . . . . . . . . . . . . . . . . . . . . . . 9 Part II Adjustment for Amounts Not Attributable to Trade or Business 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