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Partnerships: How to Calculate Partner Basis (Z2-415)

100 Minutes
On demand - Video

On Demand - Video

2 CPE Credits in TX

OVERVIEW

A detailed analysis of the calculations related to determining a partner's tax basis for a partnership interest. How to use the Form 1065 and Schedule K-1 information for basis determination will be reviewed. An illustrated example with filled in forms will demonstrate how the process works, including its many potential pitfalls.

BENEFITS

  • Apply the latest tax provisions related to LLC members/partners basis from formation through operations and concluding with sale and/or liquidation
  • Calculate tax basis capital accounts

HIGHLIGHTS

  • How to calculate the 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 partnership capital accounts and partnerships debt on partner's tax basis
  • Comprehensive example to illustrate the mechanics of the basis determination process
  • Explanation of how basis is impacted by distributions of partnership property and sale and/or liquidation of the partnership interest

COURSE LEVEL

Intermediate

PREREQUISITES

Basic working knowledge of partnership taxation.

INSTRUCTOR

Steven Dilley

Steven C. Dilley, CPA, J.D., Ph.D.
(4.4)

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PRICING

$58.00 - Member

$78.00 - Nonmember

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This event has been cancelled.

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COURSE DEVELOPER

CPA Crossings