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Partnership/LLC Taxation: Tax Basis Capital Accounts (Z2-414)

100 Minutes
On demand - Video

On Demand - Video

2 CPE Credits in TX

OVERVIEW

This program addresses the most recent developments impacting partnerships operating as LLCs, with a focus on legislative, administrative, and tax form changes. Emphasis will be placed on partners "tax basis" capital accounts, now required for tax form reporting.

BENEFITS

  • Apply recent tax developments affecting the partnership entity and its partners

HIGHLIGHTS

  • Discuss the impact of the Section 199A flow-through entities deduction on partnerships and their partners
  • The meaning of a "tax basis capital account"
  • How the financial AA and tax capital accounts differ from one another
  • Determine a partner's share of the partnership's liabilities
  • Distinguish "recourse" loans from "nonrecourse" loans
  • What are "qualified nonrecourse financing" loans and how they affect partners
  • Section 704 "built-in gain or loss" rules and how they impact Schedule K-1 reporting
  • Section 4655 "at risk" rules and how they impact Schedule K-1 reporting

COURSE LEVEL

Intermediate

PREREQUISITES

Basic working knowledge of partnership taxation.

INSTRUCTOR

Steven Dilley

Steven C. Dilley, CPA, J.D., Ph.D.
(4.4)

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PRICING

$58.00 - Member

$78.00 - Nonmember

Event Cancelled

This event has been cancelled.

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COURSE DEVELOPER

CPA Crossings

AREAS OF INTEREST