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Live Webcast Replay

Partnerships: How to Calculate the Partner's Basis


Total Credits: 2 including 2 Taxes - Technical

Average Rating:
   4
Category:
ACPEN Tax Institute |  Tax
Faculty:
Steven C. Dilley, CPA, JD, PhD
Course Levels:
Intermediate
Duration:
2 Hours
License:
Never expires.

Dates


Description

A detailed analysis of the calculations related to determining a partner's tax basis for a partnership interest using the Form 1065, Schedule K-1 information. An illustrated example with filled in forms will demonstrate how the process works and its many potential pitfalls.

Basic Course Information

Learning Objective
  • To provide a thorough review and update of the tax issues related to LLC/partnership basis from formation through operations and concluding with sale and/or liquidation.

Major Subjects
  • Calculation of 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 Discusses how basis is impacted by distributions of partnership property
  • Explains how basis is impacted by sale and/or liquidation of the partnership interest

Handouts

Faculty

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.


Dates

Fri, May 21, 2021 - 01:00pm to 02:57pm CDT
Wed, Jun 02, 2021 - 09:00am to 10:57am CDT
Fri, Jun 18, 2021 - 11:00am to 12:57pm CDT
Thu, Jul 01, 2021 - 01:00pm to 02:57pm CDT
Fri, Jul 16, 2021 - 09:00am to 10:57am CDT
Mon, Aug 02, 2021 - 11:00am to 12:57pm CDT
Thu, Aug 19, 2021 - 01:00pm to 02:57pm CDT
Wed, Sep 01, 2021 - 09:00am to 10:57am CDT
Fri, Sep 17, 2021 - 11:00am to 12:57pm CDT
Mon, Oct 04, 2021 - 01:00pm to 02:57pm CDT
Tue, Oct 19, 2021 - 09:00am to 10:57am CDT
Mon, Nov 01, 2021 - 11:00am to 12:57pm CDT
Wed, Nov 17, 2021 - 01:00pm to 02:57pm CST
Wed, Dec 01, 2021 - 09:00am to 10:57am CST
Fri, Dec 17, 2021 - 11:00am to 12:57pm CST

Additional Info

Basic Course Information

Prerequisites

Basic working knowledge of partnership taxation.


Advanced Preparation

None


Designed For CPAs working in public accounting firms and/or working for partnerships.
Original Recording Date

04/01/2020


Yellow Book

No


Course Developer

Federal Tax Workshop


Date Added to Catalog

04/21/2020


Additional Information

Complaint Resolution Policy

Please contact Anne Taylor for any complaints. anne.taylor@acpen.com, (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: www.nasbaregistry.org


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 help@acpen.com if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer.


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Overall:      4

Total Reviews: 1

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