This course examines the critical issues and special opportunities facing partnerships and their partners, 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 kori.herrera@acpen.com.
DESIGNED FOR
Practitioners with partnership clients and those seeking knowledge on thorny partnership issues
BENEFITS
- 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
HIGHLIGHTS
- Importance of capital accounts
- Reporting negative tax basis
- Tax accounting for property contributed to a partnership
- Pre-contribution appreciation
- Effect of the Ceiling Rule
- Allocation of depreci
ADDITIONAL NOTES
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