23WA-0158: Partnerships/LLC: Tax Basis Capital Accounts (Webinar)
If you have questions about this event, please call us at 952-831-2707.
Thursday, April 6, 2023
9:00am - 10:55am Central Time
2 CPE (2 technical) | 2 IRS CE
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.
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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Discuss the impact of the Section 199A flow-through entities deduction on partnerships and their partners
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The meaning of a 'tax basis capital account'
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How the financial accounting and tax capital accounts differ from one another
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Determine a partner's share of the partnership's liabilities
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Distinguish 'recourse' loans from 'nonrecourse' loans
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What are 'qualified nonrecourse financing' loans and how they affect partners
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Section 704 'built-in gain or loss' rules and how they impact Schedule K-1 reporting
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Section 4655 'at risk' rules and how they impact Schedule K-1 reporting
Learning objective(s)
Who should take this program?
CPAs in public practice and industry seeking an update on the latest tax developments affecting partnerships
Fees
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$79.00
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Standard Member Fee |
$79.00
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Standard Nonmember Fee |
$79.00
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