This course examines the critical issues and special opportunities facing partnerships and their partners, as well as the relationship between limited liability companies and partnerships, with a focus on reporting tax basis capital accounts.
**Please Note: If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to firstname.lastname@example.org.
Practitioners with partnership clients and those seeking knowledge on thorny partnership issues
- Define the tax consequences and various liabilities for both partnerships and LLCs
- Apply rules for reporting tax basis capital accounts
- Identify planning opportunities and potential pitfalls
- Recent legislative, rules and tax developments impacting partnerships and their partners
- TCJA §461(l) Excess Business Losses and §163(j) Business Interest Expense
- Form 1065, Schedules K-1 and M-2
- Schedules K-2 and K-3 update
- Reporting partner capital accounts
- Tax accounting for property contributed to a partnership
- Alternative and Remedial Methods
- Tax basis capital accounts
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