Partnerships: How to Calculate the Partner's Basis

Description

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.

Date/Time

Friday, September 13, 2019
Registration Time: 11:00am
11:00am – 1:00pm

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Course Type

On-line Live Vendors

CPE Credit

2.00 hours CPE credit

Field of Study

Taxation

Level of Knowledge

Intermediate

Designed For

CPAs working in public accounting firms and/or working for partnerships.

Vendor

CPA Crossings

Prerequisites

None

Advanced Preparation

None

Highlights

  • 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.


Objectives

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.

Location

N/A (This is a webcast)
Member Fee $79.00
Non-Member Fee $79.00
Your Price $79.00

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