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22WS-1611: Surgent's Top Ten Questions From Partnership Clients Regarding the Section 754 Election (Webinar)

If you have questions about this event, please call us at 952-831-2707.

Date Wednesday, December 14, 2022
Time 12:00pm - 3:30pm
Central Time
Location Online
CPE credits CPE 4.0
Field(s)
of study
Taxes - Technical (4.0)
Specialty
credits
4.0 IRS CE approved
Instructor Michael Tucker, PhD, LLM, JD, CPA
Surgent
Fees
Standard Member Fee $159.00
Standard Nonmember Fee $159.00

Description

This program is an in-depth analysis of the Section 754 election and the two adjustments associated with the election under Section 743(b) and Section 734(b). The 754 election is a highly technical provision that provides great tax benefits to the owners of the partnership, and particularly in the case of Section 743(b), a new partner. In this webinar, our expert panel will cover the most common questions encountered by practitioners in their daily practices. The program includes a number of examples that provide insights into the mechanics of the two adjustments that follow upon a Section 754 election.

Who should take this program?

Accounting and financial professionals seeking to fortify their Section 754 knowledge base

Major subjects

  • How does a partner compute his or her basis in a partnership?
  • What is the difference between a partner's inside and outside basis?
  • What is the difference between a partner's capital account and partner's outside basis?
  • How does Section 732(d) impact the buyer of a partnership interest?
  • How does a partnership report a Section 754 election on the partnership's tax return?
  • How does a partnership make a Section 754 election?
  • How does a partnership make a Section 743(b) adjustment?
  • How does a partnership make a Section 734(b) adjustment?
  • How is a Section 743(b) adjustment or Section 734(b) adjustment allocated to the assets of a partnership?
  • How is a Section 743(b) adjustment allocated within the class of ordinary income property and capital gain property?

Learning objective(s)

  • Be familiar with the practical issues surrounding Section 754 and its application
  • Effectively advise clients on these complex issues

Notes:

Course code Code 22WS-1611
Sponsor Surgent
NASBA ID#: 103212
Level Intermediate
Format Group Internet Based
Prerequisites Prereq. A basic understanding of the tax rules impacting individuals and pass-through entities
Advance
prep
None

If you have questions about this event, please call us at 952-831-2707.

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