|Full time Accounting Educator:||None|
A detailed analysis of the calculations related to determining a partner's tax basis for a partnerships interest using the Form 1065, Schedule K-1 information. An illustrated example with filled in forms will demonstrate how the process works and its many potential pitfalls. This course qualifies for PTIN credit. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.
CPAs working in public accounting firms and/or working for partnerships.
To provide a thorough review and update of the tax issues related to LLC/partnerships basis from formation through operations and concluding with sale and/or liquidation.
- Calculation of basis when the entity is formed, including the impact of contributed property.
- Explains the use of both "inside" and "outside basis determination.
- Clarifies the importance of partnership capital accounts and partnerships debt on partner's tax basis.
- Comprehensive example to illustrate the mechanics of the basis determination process.
- Discusses how basis is impacted by distributions of partnership property.
- Explanation of how basis is impacted by sale and/or liquidation of the partnership interest.
This event has already passed. If you have any questions, please contact us at 503-641-7200 or email email@example.com.