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Tuesday, February 27, 2024 Live Webcast

Partnerships and S Corporations: How to Calculate Basis (X4-4902600)

3:00 PM - 6:54 PM EST
webcast

Vendor Platform

4 CPE Credits in TX

OVERVIEW

The IRS has recently increased the pressure on how to calculate and report partner and shareholder basis. Changes in the forms reflect these developments. This program provides a detailed analysis of the calculations related to determining tax basis for a partnership interest and S corporation shareholder shares and loans. How to use the Form 1065, Schedule K-1 and Form 1120S, Schedule K-1 information for basis determination. Illustrated examples with filled in forms will demonstrate how the processes works and their many potential pitfalls. **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 leighanne.conroy@acpen.com.

DESIGNED FOR

CPAs working in public accounting firms and/or working for partnerships or S corporation

BENEFITS

  • Identify the tax issues related to LLC members/partners basis from formation through operations and concluding with sale and/or liquidation
  • Identify the tax issues related to S corporation owner's basis for shares and loans from fo

HIGHLIGHTS

  • Calculation of basis when the entity is formed, including the impact of contributed property
  • How to calculate partnership tax basis capital accounts
  • Explains the use of both "inside" and "outside” basis determination
  • Clarifies the how partnerships and S corporations debt impacts tax basis
  • Explains how basis is impacted by sale and/or liquidation of the partnership or S-corporation interest
  • Discusses how S corporation losses impact Form 1040 Schedule E reporting
  • Comprehensive examples to illustrate the mechanics of the basis determination process 

COURSE LEVEL

Intermediate

ADDITIONAL NOTES

Please contact the ACPEN help desk 1-877-602-9877 or help@acpen.com if you need an EA certificate or wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer.

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

$129.00 - Member

$159.00 - Nonmember

Pre-Registration Closed

Online pre-registration for this event is now closed.

ADDITIONAL OPTIONS

Print a registration form

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