Webinar (CA): Partnership Taxation: Comprehensive—Form 1065

Description

The taxation of partnerships has become more complex in the past several years. This course highlights the major areas of concern for tax advisors and their clients in compliance and planning for partnership operations, distributions and transactions. Course topics include special allocations, targeted allocations, proper calculation of outside and inside tax basis, tax consequences of distributions, the impact of “hot assets” on distributions and transfer of partnership interests, issuance of partnership interests to service partners. Add immediate value to your partnership clients by learning how to properly calculate and then report critical partnership tax items that generate most IRS audit adjustments.

Learning Objectives

• Learn about all of the tax issues surrounding the formation of a partnership.
• Understand how to allocate income and loss under various methods including targeted allocations and the proper use of the three §704(c) allocation methods.
• Learn how to properly prepare the §704(b) book capital accounts.
• Reporting recourse and non-recourse debt on the Schedule K-1.
• Learn how to allocate minimum gain allocation amounts.
• Learn how operating and liquidating distributions are taxed.
• Determine how to properly calculate the income tax on the sale of a partnership interest.
• Learn about the tax impact of the distribution of cash and non-cash assets for both proportionate and disproportionate distributions.
• Determine the impact of the rules regarding the net investment income tax, qualified business income tax deduction, and excess business interest expense deduction on a partnership.
• Learn about the new centralized partnership audit regime.

Major Topics

• Special allocations
• Targeted allocations
• Proper calculation of outside and inside tax basis
• Tax consequences of distributions
• Impact of “hot assets” on distributions
• Transfer of partnership interests
• Issuance of partnership interests to service partners

Provider
California CPA Education Foundation
Course Level
Intermediate
CPE Field of Study
Tax
8
Who Should Attend

Tax professionals.

Instructor(s)
Troy Lewis
Prerequisites

Some knowledge in partnership taxation.

Advanced Preparation

This webinar is produced by CalCPA. You will receive your login link/instructions and Certificate of Attendance directly from this third-party vendor. It is important that you review your COCPA confirmation for details on receiving your login instructions and COA from said vendor.

Location
Webinar
Event Information
When
Dec 15, 2021
9:00 am - 4:30 pm MDT
Location
Webinar
Total CPE Credits
8
Format
Webinar

MEMBER


$ (% off)
$289.00

NON-MEMBER


$ (% off)
$389.00
Become A Member

Register for this Event

Webinar (CA): Partnership Taxation: Comprehensive—Form 1065


Your browser is out-of-date!

Update your browser to view this website correctly.

Update my browser now

×