23WA-0124: Partnerships and S Corporations: How to Calculate Basis (Webinar)
If you have questions about this event, please call us at 952-831-2707.
Wednesday, April 5, 2023
9:00am - 1:05pm Central Time
4.4 CPE (4.4 technical) | 4 IRS CE
The IRS has recently increased the pressure on how to calculate and report partner and shareholder basis. Changes in the forms reflect these developments. This program provides a detailed analysis of the calculations related to determining tax basis for a partnership interest and S Corporation shareholder shares and loans. How to use the Form 1065, Schedule K-1 and Form 1120S, Schedule K-1 information for basis determination. Illustrated examples with filled in forms will demonstrate how the processes works and their many potential pitfalls.
Please Note: If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to leighanne.conroy@acpen.com.
Major subjects
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Calculation of basis when the entity is formed, including the impact of contributed property
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How to calculate partnership tax basis capital accounts
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Explains the use of both 'inside' and 'outside" basis determination
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Clarifies the how partnerships and S Corporations debt impacts tax basis
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Discusses how distributions affect basis
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Explains how basis is impacted by sale and/or liquidation of the partnership or S Corporation interest
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Discusses how S Corporation losses impact Form 1040 Schedule E reporting
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Comprehensive examples to illustrate the mechanics of the basis determination process
Learning objective(s)
Who should take this program?
CPAs working in public accounting firms and/or working for partnerships or S Corporation
Fees
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nonmember.
If you register, you will be charged
$129.00
(Standard Nonmember Fee).
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Standard Member Fee |
$129.00
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 Standard Nonmember Fee |
$129.00
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