Webinar

Partnership Essentials: Tax Basis Capital Accounts

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This course examines the critical issues and special opportunities facing partnerships and their partners, with a focus on reporting tax basis capital accounts. 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

• Importance of tax basis capital accounts.
• Reporting negative tax basis.
• Tax accounting for property contributed to a partnership.
• Effect of the Ceiling Rule.
• Allocation of depreciation to partners.
• Alternative and Remedial Methods.
• Effect on financial capital accounts.
• Form 1065, Schedule K-1.

Learning objectives

• Define the tax consequences and various liabilities for both partnerships and LLCs.
• Apply rules for reporting tax basis capital accounts.
• Identify planning opportunities and potential pitfalls.

Who should take this program?

• Practitioners with partnership clients and those seeking knowledge on thorny partnership issues.

Pricing

Our records indicate you are a nonmember. If you register, you will be charged $89.00 (Standard Nonmember Fee). Members: Please log in to receive member fee.

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