Webinar: Guide to Partner Capital Account Reporting
WS183 | Course | Basic | Scheduled
Description
Tax practitioners are responsible for presenting partner capital accounts on the tax basis. But what does this mean and how have rules changed in rece
Credits
| Number of Credits | Type of Credits |
|---|---|
| 2.00 | Taxes |
Designed For
Any tax practitioner who will be preparing partnership income tax returns
Prerequisites
Basic understanding of tax rules relating to partnerships and partners
Highlights
- How a partner’s outside basis and capital account differ
- Reconciling Schedule M-2 Form 1065 with Partnership K-1 Schedule L
- IRS requirement to report partner tax basis on the transactional approach
- Implications if a capital account is negative
- Deficit restoration accounts and qualified income offsets
- Modified outside basis method and modified previously taxed capital method
- Determining a partner’s beginning capital account
- Beginning capital account for partnerships and partners consistently reporting on the tax basis
- The two types of adjustments under 754 and how 743 and 734 require different capital account presentations
Objectives
- Understand how a partner determines and reports his or her tax basis capital account
Preparation
None
Notes
This webinar is provided by Surgent. After registering for the course, you will receive an email from Surgent with instructions for logging in to the webinar and obtaining your eMaterials.
You may confirm that your computer meets the minimum requirements by visiting: https://www.surgentcpe.com/webinartest/.
Prices
- Member (Early Bird)
- $99.00
- Non-Member (Early Bird)
- $99.00
- Member
- $99.00
- Non-Member
- $99.00