MNCPA is here for you.
Let us know how we can help.

New

22WX-2585: Partnership/LLC Taxation: Tax Basis Capital Accounts (Webinar)

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

Date Friday, December 16, 2022
Time 2:30pm - 4:30pm
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

This program addresses the most recent developments impacting partnerships operating as LLCs, with a focus on legislative, administrative, and tax form changes. Emphasis will be placed on partners "tax basis" capital accounts, now required for tax form reporting.

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 in public practice and industry seeking an update on the latest tax developments affecting partnerships.

Major subjects

  • Discuss the impact of the Section 199A flow-through entities deduction on partnerships and their partners
  • The meaning of a "tax basis capital account"
  • How the financial accounting and tax capital accounts differ from one another
  • Determine a partner's share of the partnership's liabilities
  • Distinguish "recourse" loans from "nonrecourse" loans
  • What are "qualified nonrecourse financing" loans and how they affect partners
  • Section 704 "built-in gain or loss" rules and how they impact Schedule K-1 reporting
  • Section 4655 "at risk" rules and how they impact Schedule K-1 reporting

Learning objective(s)

  • Apply recent tax developments affecting the partnership entity and its partners

Notes:

Course code Code 22WX-2585
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.