Back to Search

Partnerships: How to Calculate and Report Partner's Basis Webinar


April 23
1:00 - 3:00 p.m.

CPE Credits



PICPA Member: $79 | Nonmember: $104

 More Information

Course No.
Basic working knowledge of partnership taxation
This webinar is hosted by PICPA's partner, CPA Crossings, LLC. After registering, you will receive an email from with the log-in information.


This program provides 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 discuss its many potential pitfalls. Also, "tax basis" capital accounts must be reported in 2020 Form 1065 K-1s. This course explores what that means and how to calculate tax basis capital accounts. 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.

Learning Objectives:

After attending this presentation you will be able to...

  • Provide a thorough review and update of the latest tax issues related to LLC members and partners basis from formation through operations and concluding with sale and/or liquidation.


The major topics that will be covered in this class include:
  • How to calculate tax basis capital accounts
  • 2020 new reporting rules on Form 1065, Schedule K-1
  • Calculation of basis when the entity is formed, including the impact of contributed property
  • Explanation of 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 illustrating the mechanics of the basis determination process
  • Discussion on how basis is impacted by distributions of partnership property
  • Explanation of how basis is impacted by sale and/or liquidation of the partnership interest


You May Also Like

Entertainment and Parking: Coping with the Final Rules Webinar
May 7 | Webinar
This program reviews the statutory and regulatory guidance as they related to fringe benefits, with emphasis on entertainment/business transportation expenses, qualified employer-provided parking and meals expense reporting. Recent federal tax ...
NEW 2020 Stimulus Bill: Tax Provisions You Need to Know NOW Webinar
May 10 | Webinar
The December Stimulus package has just been released and includes major tax provisions that will be effective for the 2020 tax year, things that CPAs and tax preparers need to ...
Financial and Tax Accounting for Partnerships and S Corps Webinar
May 10 | Webinar
This course compares and contrasts the financial accounting for partnerships, LLCs and S corporations from the tax accounting perspective for these entities. Important differences between financial and tax accounting for ...