Partnerships and S Corporations: How to Calculate Basis
Wednesday, April 22, 2026
2-5:50 p.m. Central
4 CPE (4 technical) | 4 IRS CE
Course code: 26WA-0882
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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 process 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 kori.herrera@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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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 objectives
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Identify the tax issues related to LLC members/partners basis from formation through operations and concluding with sale and/or liquidation
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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
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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
|
Standard Member Fee |
$129.00
|
 Standard Nonmember Fee |
$129.00
|
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Instructor
Steven Dilley, PhD, CPA, JD
Location
Online
Area
of study
Taxation
Field(s)
of study
Taxes - Technical (4.0)
Level
Intermediate
Format
Group Internet Based
Sponsor
NASBA ID#: 107810
Prerequisites
Prereq.
Basic working knowledge of partnership and S corporation taxation
Advance
prep
None
Cancellation
policy
Receive a full refund if you cancel at least four business
days before the event start date.
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