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22WX-2514: Partnerships: How to Calculate Partner Basis (Webinar)

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

Date Monday, December 12, 2022
Time 12:00pm - 2:00pm
Central Time
Location Online
CPE credits CPE 2.0
Field(s)
of study
Taxes - Technical (2.0)
Instructor Steven Dilley, PhD, CPA, JD
Federal Tax Workshops, Inc.
Fees
Standard Member Fee $79.00
Standard Nonmember Fee $79.00

Description

A detailed analysis of the calculations related to determining a partner's tax basis for a partnership interest. How to use the Form 1065 and Schedule K-1 information for basis determination will be reviewed. An illustrated example with filled in forms will demonstrate how the process works, including its many potential pitfalls.

This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Who should take this program?

CPAs working in public accounting firms and/or working for partnerships.

Major subjects

  • How to calculate the basis when the entity is formed, including the impact of contributed property
  • Explains the use of both "inside" and "outside" basis determination
  • Clarifies the importance of partnership capital accounts and partnerships debt on partner's tax basis
  • Comprehensive example to illustrate the mechanics of the basis determination process
  • Explanation of how basis is impacted by distributions of partnership property and sale and/or liquidation of the partnership interest

Learning objective(s)

  • Apply the latest tax provisions related to LLC members/partners basis from formation through operations and concluding with sale and/or liquidation
  • Calculate tax basis capital accounts

Notes:

Course code Code 22WX-2514
Sponsor CPA Crossings, LLC
NASBA ID#: 108744
Level Intermediate
Format Group Internet Based
Prerequisites Prereq. Basic working knowledge of partnership taxation.
Advance
prep
None

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