New
20WX-2813: Partnerships: How to Calculate and Report Partner's Basis (Webinar)
If you have questions about this event, please call us at 952-831-2707.
Thursday, March 18, 2021
1:00pm - 3:00pm Central Time
2 CPE ()
This program provides a detailed analysis of the calculations related to determining a partner's tax basis for a partnerships interest using the Form 1065, Schedule K-1 information. An illustrated example with filled in forms will demonstrate how the process works and discuss its many potential pitfalls. Also, "tax basis" capital accounts must be reported in 2020 Form 1065 K-1s. This course explores what that means and how to calculate tax basis capital accounts.
This course qualifies for PTIN credit.
This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.
Major subjects
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How to calculate tax basis capital accounts
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2020 new reporting rules on Form 1065, Schedule K-1
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Calculation of basis when the entity is formed, including the impact of contributed property
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Explanation of the use of both "inside" and "outside" basis determination
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Clarifies the importance of partnership capital accounts and partnerships debt on partner's tax basis
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Comprehensive example illustrating the mechanics of the basis determination process
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Discussion on how basis is impacted by distributions of partnership property
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Explanation of how basis is impacted by sale and/or liquidation of the partnership interest
Learning objective(s)
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Provide a thorough review and update of the latest tax issues related to LLC members and partners basis from formation through operations and concluding with sale and/or liquidation.
Who should take this program?
CPAs working in public accounting firms and/or working for a partnership
Fees
Our records indicate
you are a
nonmember.
If you register, you will be charged
$79.00
(Standard Nonmember Fee).
Members: Please
log in
to receive member fee.
|
Standard Member Fee |
$79.00
|
 Standard Nonmember Fee |
$79.00
|
