This seminar provides a comprehensive overview of Schedule K-1, which taxpayers may receive from pass-through entities such as Partnerships, Subchapter S Corporations, or Estates/Trusts. The course will cover the most common characteristics of Schedule K-1, including how to report the information on Form 1040. Attendees will also learn about the Qualified Business Income (QBI) Deduction and its reporting criteria. Additionally, relevant topics such as basis and loss limitations, material participation, and integration with the QBI deduction will be addressed, along with a discussion of proposed changes to Schedules K-2 and K-3.
*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
CPAs in public practice or members in industry seeking a better understanding of analytical procedures
BENEFITS
- Understand the nature of analytical procedures
- Design and implement analytical procedures for professional engagements
- Understand the AICPA's guidance for utilizing analytical procedures in audit and review engagements
HIGHLIGHTS
- Analytical procedures in audit and review engagements
- Practical examples and illustrations of analytical procedures
- The order of operations for accomplishing analytical procedures
PREREQUISITES
Basic working knowledge of audit and review engagements and working with Microsoft Excel
ADVANCE PREPARATION
None