Partnerships: How to Calculate Partner Basis
Date/Time
7/30/2024
10:00 AM - 12:00 PM Central
10:00 AM - 12:00 PM Central
Course Registration
Credits
2 Credits
Event Type(s)
Webinars
Event Description
A detailed analysis of the calculations related to determining a partner's tax basis for a partnership interest. How to use the Form 1065 and Schedule K-1 information for basis determination will be reviewed. An illustrated example with filled in forms will demonstrate how the process works, including its many potential pitfalls. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.
Objectives:
After attending this presentation you will be able to...
Apply the latest tax provisions related to LLC members/partners basis from formation through operations and concluding with sale and/or liquidation
Calculate tax basis capital accounts
Instructor:
Steven C. Dilley, CPA, JD, PhD
Fields of Study:
Taxes
Major Topics:
Objectives:
After attending this presentation you will be able to...
Apply the latest tax provisions related to LLC members/partners basis from formation through operations and concluding with sale and/or liquidation
Calculate tax basis capital accounts
Instructor:
Steven C. Dilley, CPA, JD, PhD
Fields of Study:
Taxes
Major Topics:
The major topics covered in this class include:
- How to calculate the 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
- Explanation of how basis is impacted by distributions of partnership property and sale and/or liquidation of the partnership interest
Location
Webinar
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