Webinar: Mastering Partnership Basis: Inside and Outside Basis

WC1026  |  Course  |  Intermediate  |  Scheduled

Description

This course will provide a detailed analysis of how to determine a partner's tax basis for a partnership interest, with an explanation of the use of both "inside" and "outside" basis determination. An illustrated example with filled in forms will demonstrate how the process works and the 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.

Credits

Number of Credits Type of Credits
2.00 Taxes

Designed For

CPAs working in public accounting firms and/or working for partnerships.

Prerequisites

Basic working knowledge of business taxation.

Highlights

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

  • Explain the use of both "inside" and "outside” basis determination.
  • How to calculate tax basis capital accounts, including when the entity is formed, including the impact of contributed property.
  • Clarify the importance of partnership capital accounts and partnerships debt on partner's tax basis.
  • Explanation of how basis is impacted distributions and by sale and/or liquidation of the partnership interest.
  • Comprehensive example to illustrate the mechanics of the basis determination process.

Objectives

After attending this presentation, you will be able to...

  • Implement practical strategies based on a thorough understanding of the complex rules for retirement distributions
  • Implement practical strategies in determining a partner’s tax basis for a partnership interest
  • Identify the use of Form 1065, Schedule K-1 information for basis determination.

Preparation

None

Notes

Webinar Day - HELP and Assistance Instructions

  1. The session will open 30 minutes prior to the start time. At that time, you will receive a reminder email bringing you to your Attendee Dashboard and a link to join the webinar.
  2. We recommend you log in early to ensure you are ready to go when the presentation begins.
  3. IF YOU ARE HAVING TROUBLE LOGGING INTO THE WEBINAR, please call the CPA Crossings Customer Service Team at (877)-370-2220 Ext. #1.

Prices

Member (Early Bird)
$89.00
Non-Member (Early Bird)
$89.00
Member
$89.00
Non-Member
$89.00
Your Price: $89.00

This is your base price and does not reflect any additional session fees, optional add-ons, or guest registrations.

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