Partnerships: How to Calculate the Partner's Basis Webinar

A detailed analysis of the calculations related to determining a partner's tax basis for a partnerships interest using the Form 1065, Schedule K-1 information. An illustrated example with filled in forms will demonstrate how the process works and its many potential pitfalls. This course qualifies for PTIN credit. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.
Highlights

• Calculation of 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.
  
• Discusses how basis is impacted by distributions of partnership property.
  
• Explanation of how basis is impacted by sale and/or liquidation of the partnership interest.