Basis Calculations & Distributions for Pass–Through Entity Owners (8 hours)

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Aug 18, 2020

Registration: 8:00 AM / Program: 8:30 AM - 4:00 PM Pacific Time

Fees

Member Fee: $0.00
Nonmember Fee: $0.00

Available Discounts

AICPA Member: None
Full time Accounting Educator: None

Description

Get up to speed quickly with this comprehensive case-driven training course, focused on basis calculations and distribution planning for the owners of pass-thru entities (i.e., S corps, partnerships and LLCs). Take a line-by-line analysis of the Schedule K-1 and how it affects the basis calculations. Hands-on methodology, real-world examples and cases are used to demonstrate the complex income tax code and regulations to enhance the learning experience. Each attendee will receive a comprehensive reference manual with numerous practice aids, real-world examples and case studies.

Designed For

Tax professionals.

Objectives

Identify the three main reasons for calculating a shareholder's basis in a S corp and partner/member's basis in a partnership/LLC. Calculate the stock and debt basis for S corp shareholders. Calculate the basis for partners and members of a federally-taxed partnership. Calculate losses allowed from at-risk activities. Review the Form 1120S and Form 1065 Schedule K-1s to determine how the line items affect basis calculations and are reported on the individual owner's Form 1040.

Major Subjects

Emphasize any new legislation affecting owners of pass-through entities. The four loss and deduction limitations on the owner's individual income tax return (i.e., basis, at-risk, passive activity loss rules and the excess busines loss). How cash or non-cash distributions affect the basis calculations and whether or not they are taxable to the owners. Compare the tax treatment of the sale of a shareholder's stock in a S corporation and a partner's interest in a partnership. What constitutes debt basis for a S corp shareholder under the final regulations. Tax ramifications of repaying loans to S corp shareholders and on open account debt. How recourse and non-recourse debt affect a partner or member's basis calculations and amount at-risk.

This event has already passed. If you have any questions, please contact us at 503-641-7200 or email profdev@orcpa.org.