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Webinar (CPA Crossings): Partnerships: How to Calculate Partner Basis

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 and Schedule K-1 information for basis determination will be reviewed. An illustrated example with filled in forms will demonstrate how the process works, including its many potential pitfalls.

This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Learning Objectives

After attending this presentation you will be able to…

  • Apply the latest tax provisions related to LLC members/partners basis from formation through operations and concluding with sale and/or liquidation
  • Calculate tax basis capital accounts
Major Topics

The major topics covered in this class include:

  • How to calculate the 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
  • Explanation of how basis is impacted by distributions of partnership property and sale and/or liquidation of the partnership interest
Provider
CPA Crossings, LLC
Course Level
Intermediate
CPE Field of Study
Taxes
2
Who Should Attend

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

Instructor(s)
Steve Dilley
Prerequisites

Basic working knowledge of partnership taxation.

Advanced Preparation

This webinar is produced by CPA Crossings. 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
Mar 16, 2023
10:00 am - 12:00 pm MDT
Location
Webinar
Total CPE Credits
2
Format
Webinar

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$79.00

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$103.00
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Webinar (CPA Crossings): Partnerships: How to Calculate Partner Basis


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