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Partnership/LLC Taxation: Tax Basis Capital Accounts Webinar

CPE

When
July 11
1:00 - 3:00 p.m.

CPE Credits
2-Tax

Details

 Pricing

PICPA Member: $79 | Nonmember: $104


 More Information

Course No.
FTSDTBC2
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, now 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...

  • Apply recent tax developments affecting the partnership entity and its partners

Highlights

The major topics that will be covered in this class include:

  • Discuss the impact of the Section 199A flow-through entities deduction on partnerships and their partners
  • The meaning of a "tax basis capital account"
  • How the financial accounting and tax capital accounts differ from one another
  • Determine a partner's share of the partnership's liabilities
  • Distinguish "recourse" loans from "nonrecourse" loans
  • What are "qualified nonrecourse financing" loans and how they affect partners
  • Section 704 "built-in gain or loss" rules and how they impact Schedule K-1 reporting
  • Section 4655 "at risk" rules and how they impact Schedule K-1 reporting


Speaker(s)


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