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Live Webcast Replay

Partnership Checkup: Key Tax Issues & Forms Reporting

Total Credits: 4 including 4 Taxes - Technical

Average Rating:
ACPEN Tax Institute |  Tax |  IRS Approved
Steven C. Dilley, CPA, JD, PhD
Course Levels:
4 Hours
Never expires.

Please Note: Programs with a ☾ insignia begin after 5pm or air on the weekend.


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, as well an overview of K-2 and K-3 reporting requirements and effective dates.

**Please Note:  If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to

Basic Course Information

Major Subjects
  • Discussion of the impact of the Section 199A flow-through entities deduction on partnerships and their partners
  • The meaning of a “tax basis capital account” -- how do the financial accounting and tax capital accounts differ from one another
  • Distinguishing “recourse” loans from “nonrecourse” loans
  • What are “qualified nonrecourse financing” loans and how they affect partners
  • Review of the Sec. 704 “built-in gain or loss” and Sec. 465 “at risk” rules and how they impact Schedule K-1 reporting
  • Schedules K-2 and K-3 * 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
  • Comprehensive example to illustrate the mechanics of the basis determination process

Learning Objectives
  • Identify recent tax developements impacting the partnership entity and its partners



Steven C. Dilley, CPA, JD, PhD's Profile

Steven C. Dilley, CPA, JD, PhD Related Seminars and Products

Steven C. Dilley, CPA, JD, PhD is President of Federal Tax Workshops, Inc., East Lansing, Michigan, where for the past 36 years, his organization has prepared continuing professional education materials and presented seminars for accountants and attorneys throughout the United States. He is nationally known for his knowledge of the financial, accounting, and tax problems of the closely held business. He has published numerous articles on these topics. In addition, Steve is a Professor of Accounting at Michigan State University, East Lansing, where he teaches tax accounting and was nominated in 2004 for the "Educator of the Year Award." He obtained his PhD in accounting, law degree and an undergraduate accounting degree from the University of Wisconsin-Madison. He is a member of the Michigan Association of CPAs, Wisconsin Bar Association, The American Accounting Association, AICPA, American Tax Association, and Hawaii Association of Public Accountants.


Tue, Dec 05, 2023 - 06:00pm to 09:43pm CST
Mon, Dec 11, 2023 - 08:00am to 11:43am CST
Mon, Dec 18, 2023 - 10:00am to 01:43pm CST
Thu, Dec 28, 2023 - 12:00pm to 03:43pm CST
Thu, Jan 04, 2024 - 02:00pm to 05:43pm CST
Mon, Jan 15, 2024 - 08:00am to 11:43am CST
Fri, Jan 26, 2024 - 10:00am to 01:43pm CST
Wed, Feb 07, 2024 - 12:00pm to 03:43pm CST
Sat, Feb 17, 2024 - 02:00pm to 05:43pm CST
Tue, Feb 27, 2024 - 08:00am to 11:43am CST
Sat, Mar 02, 2024 - 10:00am to 01:43pm CST
Tue, Mar 12, 2024 - 12:00pm to 03:43pm CDT
Mon, Mar 25, 2024 - 02:00pm to 05:43pm CDT
Thu, Apr 04, 2024 - 08:00am to 11:43am CDT
Tue, Apr 16, 2024 - 06:00pm to 09:43pm CDT
Thu, Apr 25, 2024 - 12:00pm to 03:43pm CDT

Additional Info

Basic Course Information

Prerequisites Basic working knowledge of partnership taxation
Advanced Preparation


Designed For CPAs working in public accounting firms and/or working for within a partnerships
Original Recording Date 05/2023
Yellow Book No
Course Developer Federal Tax Workshop
Date Added to Catalog 02/09/2023

Additional Information

Complaint Resolution Policy Please contact Anne Taylor for any complaints., (972-377-8199).
Official Registry Statement Business Professionals' Network, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website:
Instructional Delivery Method Live Group Internet Based
Course Registration Requirements Online Registration
Refund/Cancellation Policy Please contact the ACPEN help desk 1-877-602-9877 or if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer.



Overall:      4.7

Total Reviews: 12