Description
A detailed analysis of the calculations related to determining a partner’s tax basis for a partnership interest. How to use the Form 1065, Schedule K-1 information for basis determination. An illustrated example with filled in forms will demonstrate how the process works and its many potential pitfalls.
Objective
To provide a thorough review and update of the tax issues related to LLC members/partners basis from formation through operations and concluding with sale and/or liquidation.
Highlights
* How to calculate tax basis capital accounts * 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.
Who Should Attend
CPAs working in public accounting firms and/or working for partnerships.
Required Knowledge
Basic working knowledge of partnership taxation.
Advanced Prep
None
Event Speaker(s)
Additional Event Information
Contact NCACPA if you need assistance with your online program. For the quickest results, email the Online Learning Team at [email protected], and a team member will contact you shortly.
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*NCACPA office hours are 9:00 am–5:00 pm ET. Online Learning Team members will be available via email 30 minutes prior to the start of a live online program.
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Also Available As
Thursday, September 1, 2022 (1:00 pm–2:40 pm ET)Register >>
Tuesday, November 22, 2022 (11:00 am–12:40 pm ET)Register >>
Thursday, December 8, 2022 (2:00 pm–3:40 pm ET)Register >>
Friday, February 17, 2023 (1:00 pm–2:40 pm ET)Register >>
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Registration Fees
| Registration | Early Bird | Regular |
|---|---|---|
| NCACPA Member | N/A | $85.00 |
| Non-Member | N/A | $110.00 |
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