Basis Calculations for Partners & LLC Members

1:00 pm–4:45 pm ET

CPE SelectAvailable with CPE Select

# of CPE Credits



This comprehensive training is designed to get the accountant up to speed quickly in the area of basis calculations and distribution planning for the owners of a partnership (i.e., partners and LLC members).


Once participants have completed this session they should be able to * List the three main reasons for calculating a partner/member’s basis in a partnership/LLC * Calculate the basis for partners and members of a LLC * Calculate losses allowed from at-risk activities * Review the Form 1065 Schedule K-1 to determine how the line items affect basis calculations and get reported on the individual owner’s Form 1040


* This session is taught using a Hands-On methodology * Real-world examples and cases are used to demonstrate the complex income tax code and regulations to enhance the participant's learning experience * Each attendee will receive the most comprehensive reference manual with numerous practice aids, real-world examples, and case studies * Topics include but are not limited to * Line-by-line analysis of the Schedule K-1s to determine how the items affect a partner/member’s outside basis and where the items get reported on federal individual income tax return * The three loss and deduction limitations on the owner’s individual income tax return (i.e. basis, at-risk, and other Form 1040 limitations) * How cash or noncash distributions affect the basis calculations and whether or not they are taxable to the owners * How recourse and nonrecourse debt effect a partner or member’s basis calculations and amount at-risk

Who Should Attend

Tax professionals who need an in-depth training course on basis calculations and distributions rules for partnerships and their owners

Required Knowledge


Advanced Prep

Basic understanding of individ

Event Speaker(s)

J. Patrick Garverick ( Garverick CPE, Goodyear, AZ ),

Additional Event Information

Technical Support
Contact NCACPA if you need assistance with your online program. For the quickest results, email the Online Learning Team at onlinelearning@ncacpa.org, and a team member will contact you shortly.

If you need assistance with internet access issues, browser capability, or when the NCACPA office is closed* please call Freestone Technical Support at 866-702-3278 or by email at support@peachnewmedia.com.

*NCACPA office hours are 9:00 am–5:00 pm ET. Online Learning Team members will be available via phone or email 30 minutes prior to the start of a live online program.

CPE Select Pass Policies
The CPE Select pass is available only for NCACPA members and the price is applicable for an individual user. The pass includes access to on demand and webinar programs, but excludes webcasts, “hot topic” webinars, and on demand Ethics programming. All eligible programs for the CPE Select pass will be marked in the online catalog and in promotions. Licensed CPAs who elect the student membership status must provide proof of enrollment in an advanced degree.

The CPE Select pass grants unlimited access to qualifying webinars and on demand programs on a calendar-year basis. Early bird pricing runs January 1 through May 31, and regular pricing runs June 1 through December 31.

We anticipate a spike in webinar activity later in the calendar year, and NCACPA is not liable for third-party service outages that may occur. Please plan your CPE before 12/31 to avoid any unforeseen technology issues.

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Event Vendor:Phoenix Beach, LLC
Field of Study:Taxes
Level: Intermediate

Event Type:Webinar
Event Code:WB054019

Registration Fees

Registration Fee Early Bird Regular
CPE Select N/A $0.00
NCACPA Member N/A $150.00
Non-Member N/A $200.00
CPE Sponsors LogoThe National Registry of CPE Sponsors is a program offered by the National Association of State Boards of Accountancy (NASBA) to recognize CPE program sponsors who provide continuing professional education (CPE) programs in accordance with nationally recognized standards. The North Carolina Association of Certified Public Accountants is registered with NASBA as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org/.

For more information regarding refund, complaint, program cancellation or other policies, visit our Registration Policies page or call 800- 469-1352.