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Partnerships: How to Calculate the Partner Basis

1:00 pm–2:40 pm ET

# of CPE Credits

2

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)

Mr. Steven C. Dilley, CPA, JD, Ph.D. ( Federal Tax Workshops, East Lansing, MI ),

Additional Event Information

Technical Support
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Also Available As

Webcast
Monday, June 27, 2022 (1:00 pm–2:40 pm ET)
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Webinar
Tuesday, November 22, 2022 (11:00 am–12:40 pm ET)
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Webinar
Thursday, December 8, 2022 (2:00 pm–3:40 pm ET)
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Webinar
Friday, February 17, 2023 (1:00 pm–2:40 pm ET)
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Share This Event

Event Vendor:Federal Tax Workshops
Field of Study:Taxes
Level: Intermediate
Other:Enrolled Agent

Event Type:Webinar
NASBA Instructional Method:Group Internet Based
Event Code:WB061722

Registration Fees

RegistrationEarly BirdRegular
NCACPA MemberN/A$85.00
Non-MemberN/A$110.00
CPE Sponsors LogoThe North Carolina Association of Certified Public Accountants is registered with the National Association of State Boards of Accountancy (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/.

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