Basis/Distributions for Pass-Through Entities: Simplifying the Complexities

Description

The IRS is scrutinizing, more closely than ever, the basis owners have and the transactions for which the computation of basis is required. This course, which has been updated to include provisions of the Tax Cuts and Jobs Act of 2017, addresses the rules used to determine basis for partnerships and S Corporations, and puts the computation of basis in contexts that often come under scrutiny - loss limitations, distributions, and sales of an interest, among others. Learn the crucial rules for computing the adjusted basis and the tax treatment of distributions from pass-through entities, such as partnerships and S Corporations. Focus on the computation of the basis and the at-risk amount for these entities. Become familiar with correct allocation of liabilities among partners, the types and amounts of income that can result from distributions and sales of interests, and the basis of assets distributed from pass-through entities.

Date/Time

Friday, October 12, 2018
Registration Time: 8:00am
8:00am – 4:00pm

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Course Type

On-line Live Vendors

CPE Credit

8.00 hours CPE credit

Field of Study

Taxation

Level of Knowledge

Intermediate

Vendor

AICPA

Prerequisites

Experience in business taxation

Advanced Preparation

None

Highlights

 Structuring cash and property distributions to avoid unexpected tax consequences

 Adjusting basis in partnership assets to save future Taxation

 Measuring the gain or loss on the sale of an interest in a partnership or S Corporation

 Minimizing recognition of ordinary income on sale of an interest

 Maximizing the amount of the pass

-through losses deductible by the partner/ shareholder

Objectives

When you complete this webcast, you will be able to:

 Calculate the basis of a partnership interest or S Corporation stock ownership.

 Determine the amount and the character of income or loss the partner or shareholder should recognize, in the event of distributions of property or money.

 Apply the basis, at-risk, and passive activity loss limitations to pass-through losses from partnerships, LLCs, and S Corporations.

 Determine the tax treatment of sales of either partnership interests or S Corporation stock.

 Calculate the basis of partnership or LLC property following certain distributions and transfers of interests in the entity.

Location

N/A (This is a webcast)
Member Fee $249.00
Non-Member Fee $319.00
Your Price $319.00

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