BEGIN:VCALENDAR VERSION:2.0 CALSCALE:GREGORIAN METHOD:PUBLISH PRODID://NDCP//499061 BEGIN:VEVENT DTSTAMP:20260429T131853 VTIMEZONE:America/Chicago DTSTART:20260603T130000Z DTEND:20260603T210000Z UID:499061 SUMMARY:Surgent's Handbook for Mastering Basis, Distributions, and Loss Limitation Issues for S Corporations, LLCs, and Partnerships (HMBI) LOCATION:Webinar DESCRIPTION:Surgent's Handbook for Mastering Basis, Distributions, and Loss Limitation Issues for S Corporations, LLCs, and Partnerships (HMBI)\n\n06/03/26 08:00 AM CST\n - 06/03/26 04:00 PM CST\Description:\nThe most difficult concepts to master when dealing with flow-through business entities are the basis and distribution concepts. Major error and malpractice issues occur if the CPA does not fully understand the impact of these rules. This course is designed to focus on the practical applications of these rules.Objectives: Determine initial basis and organizing tax-free under §351 and §721 Understand what affects basis and how to treat distributions Pass the four loss limitation hurdles to deduct pass-through losses Presenters:Michael Frost, CPAField of Study:Taxes (8)Major Topics: Timely coverage of breaking tax legislation, including relevant provisions of the 2025 One Big Beautiful Bill Act (“OBBBA”) Applicable coverage of any basis considerations within any recent tax legislation   Passthrough basis calculations required as attachments to certain individual returns  Executor’s form for disclosing basis in certain distributed property; what about the basis of a property distribution from a trust?  How §179 limitations affect basis and how tax-benefit rule is applied  Basis implications of personal assets converted to business use  How to calculate basis of inherited qualified and joint tenancy property  Tax basis capital account reporting requirements  S corporations: Beware of final IRS regulations regarding “open debt”; determine how to calculate basis; worksheets are included; understand the effect of stock basis and debt basis and IRS’s recent focus on “at-risk basis” for shareholders; recognize how AAA applies or doesn’t apply to S corporations; learn to apply the complex basis ordering rules and special elections that can have a big tax result; discuss loss limitation rules in depth; when you can have a taxable dividend in an S corporation; understand distributions of cash and property; understand the post-termination transition rules, and temporary post-termination rules for eligible corporations, which will be important for S corps returning to C corps  LLCs and partnerships: Learn the detailed rules of §704 for preventing the shifting of tax consequences among partners or members; learn to calculate basis under §704 & for “at-risk” under §465; recognize how recourse, nonrecourse, and qualified nonrecourse debt can create significantly different tax results; learn the difference between basis and “at-risk basis”; review §754 step-up in basis rules; the economic effect equivalence test or “dumb-but-lucky” rule; learn to apply the complex rules of distribution of cash vs. property, and the basis treatment of charitable contributions and foreign taxes paid  \Location:\nWebinar\n\n, X-ALT-DESC;FMTTYPE=text/html:Surgent's Handbook for Mastering Basis, Distributions, and Loss Limitation Issues for S Corporations, LLCs, and Partnerships (HMBI)

06/03/26 08:00 AM CST - 06/03/26 04:00 PM CST
Description:
The most difficult concepts to master when dealing with flow-through business entities are the basis and distribution concepts. Major error and malpractice issues occur if the CPA does not fully understand the impact of these rules. This course is designed to focus on the practical applications of these rules.

Objectives:

Presenters:
Michael Frost, CPA

Field of Study:
Taxes (8)

Major Topics:

Location:
Webinar

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