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Thursday, December 2, 2021 Live Webcast

Partnerships: How to Calculate the Partner's Basis (X2-19721)

12:00 PM - 2:00 PM EST
webcast

Vendor Platform

2 CPE Credits in TX

OVERVIEW

DESIGNED FOR

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

BENEFITS

After attending this presentation you will be able 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

The major topics covered in this class include:

  • 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 partnerships 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

COURSE LEVEL

Intermediate

PREREQUISITES

Basic working knowledge of partnership taxation.

ADVANCE PREPARATION

None

INSTRUCTOR

Steven Dilley

Steven C. Dilley, CPA, J.D., Ph.D.

Steven C. Dilley, CPA, J.D., Ph.D. is President of Federal Tax Workshops, Inc., East Lansing, Michigan, where for the past 36 years, his organization has prepared continuing professional education materials and presented seminars for accountants and attorneys throughout the United States. He is nationally known for his knowledge of the financial, accounting, and tax problems of the closely held business. He has published numerous articles on these topics. In addition, Steve is a Professor of Accounting at Michigan State University, East Lansing, where he teaches tax accounting and was nominated in 2004 for the "Educator of the Year Award." He obtained his Ph.D. in accounting, law degree and an undergraduate accounting degree from the University of Wisconsin-Madison. He is a member of the Michigan Association of CPAs, Wisconsin Bar Association, The American Accounting Association, AICPA, American Tax Association, and Hawaii Association of Public Accountants.

PRICING

$69.00 - Member

$89.00 - Nonmember

Pre-Registration Closed

Online pre-registration for this event is now closed.

ADDITIONAL OPTIONS

Print a registration form

COURSE DEVELOPER

CPA Crossings