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Partnership/LLC Taxation: Tax Basis Capital Accounts Webinar

CPE

When
Jan. 27
12:00 - 2:00 p.m.

CPE Credits
2-Tax

Details

 Pricing

PICPA Member: $79 | Nonmember: $104


 More Information

Course No.
FTSDPTT2
Level
Intermediate
Prerequisites
Basic working knowledge of partnership taxation.
Note
This webinar is hosted by PICPA's partner, CPA Crossings, LLC. After registering, you will receive an email from messenger@webex.com with the log-in information.

Description

This program addresses the most recent developments impacting partnerships operating as LLCs, with a focus on legislative, administrative, and tax form changes. Emphasis will be placed on partners "tax basis" capital accounts - these are required for tax form reporting. 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...

  • Know how to determine a partner's share of the partnership's liabilities
  • Understand what "qualified nonrecourse financing" loans are and how they affect partners
  • Provide an update of the recent changes affecting the partnership entity and its partners

Highlights

The major topics covered in this class include:

  • Discussion of the impact of the Section 199A flow-though entities on partnerships and their partners
  • The meaning of a "tax basis capital account" - how do the financial accounting and tax capital accounts differ from one another
  • Distinguishing "recourse" loans from "nonrecourse" loans
  • Review of the Section 704 "built-in gain or loss" rules and how they impact Schedule K-1 reporting
  • Review of the Section 465 "at-risk" rules ad how they impact Schedule K-1 reporting



Speaker(s)


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