Webinar

Partnerships and S Corporations: How to Calculate Basis

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

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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

• Calculation of basis when the entity is formed, including the impact of contributed property
• How to calculate partnership tax basis capital accounts
• Explains the use of both "inside" and "outside" basis determination
• Clarifies the how partnerships and S

Learning objectives

• Identify the tax issues related to LLC members/partners basis from formation through operations and concluding with sale and/or liquidation
• Identify the tax issues related to S Corporation owner's basis for shares and loans from formation through operations and concluding with sale and/or liquidation
• Understand potential pitfalls and planning strategies

Who should take this program?

• CPAs working in public accounting firms and/or working for partnerships or S Corporation

Pricing

Our records indicate you are a nonmember. If you register, you will be charged $129.00 (Standard Nonmember Fee). Members: Please log in to receive member fee.