Name: Surgent's Handbook for Mastering Basis, Distributions, and Loss Limitation Issues for S Corporations, LLCs, and Partnerships
Start: 2025-12-22T09:00:00Z
End: 2025-12-22T16:30:00Z

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Monday, December 22, 2025 Live Webcast

9:00 AM - 4:30 PM EST

Registration: 8:30 AM EST

Vendor Platform

8 CPE Credits in TX

The most difficult concepts to master when dealing with flow-through business entities are the basis and distribution concepts. Major error and malpractice issues occur if the CPA does not fully understand the impact of these rules. This course is designed to focus on the practical applications of these rules.

This course features a live instructor and has been specifically designed for the NJCPA.

DESIGNED FOR

CPAs who prepare both individual and flow-through business entity tax returns and need a thorough grasp of these significant issues

BENEFITS

Determine initial basis and organizing tax-free under §351 and §721
Understand what affects basis and how to treat distributions
Pass the four loss limitation hurdles to deduct pass-through losses

HIGHLIGHTS

Timely coverage of breaking tax legislation
Applicable coverage of any basis considerations within any recent tax legislation
Pass-through basis calculations required as attachments to certain individual returns
Executor’s form for disclosing basis in certain distributed property; what about the basis of a property distribution from a trust?
How §179 limitations affect basis and how tax-benefit rule is applied
Basis implications of personal assets converted to business use
How to calculate basis of inherited and joint tenancy property
Tax basis capital account reporting requirements
S corporations: Beware of final IRS regulations regarding “open debt”; determine how to calculate basis; worksheets are included; understand the effect of stock basis and debt basis and IRS’s recent focus on “at-risk basis” for shareholders; recognize how AAA applies or doesn’t apply to S corporations; learn to apply the complex basis ordering rules and special elections that can have a big tax result; discuss loss limitation rules in depth; when you can have a taxable dividend in an S corporation; understand distributions of cash and property; understand the post-termination transition rules, and temporary new TCJA post-termination rules for eligible corporations, which will be important for S Corps returning to C corps
LLCs and partnerships: Learn the detailed rules of §704 for preventing the shifting of tax consequences among partners or members; learn to calculate basis under §704 & for “at-risk” under §465; recognize how recourse, nonrecourse, and qualified nonrecourse debt can create significantly different tax results; learn the difference between basis and “at-risk basis”; review §754 step-up in basis rules; the economic effect equivalence test or “dumb-but-lucky” rule; learn to apply the complex rules of distribution of cash versus property, TCJA cleans up the basis treatment of charitable contributions and foreign taxes paid

TAKE THEIR WORD FOR IT…

Past attendees say:

Great Presentation
Course content was excellent.

COURSE LEVEL

Intermediate

PREREQUISITES

Experience in business taxation

ADVANCE PREPARATION

None

ADDITIONAL NOTES

Qualifies for IRS credit

Joseph P. Nicola, CPA, CVA
(4.5)

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PRICING

$299.00 - Member

$449.00 - Nonmember

Event Cancelled

This event has been cancelled.

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COURSE DEVELOPER

Surgent

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IRS (EA)

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Surgent's Handbook for Mastering Basis, Distributions, and Loss Limitation Issues for S Corporations, LLCs, and Partnerships (E2512051)

OVERVIEW

DESIGNED FOR

BENEFITS

HIGHLIGHTS

TAKE THEIR WORD FOR IT…

COURSE LEVEL

PREREQUISITES

ADVANCE PREPARATION

ADDITIONAL NOTES

SESSIONS

INSTRUCTOR

Joseph P. Nicola, CPA, CVA
(4.5)

Event Cancelled

PRICING

Event Cancelled

ADDITIONAL OPTIONS

Request a Reminder

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COURSE DEVELOPER

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Data Alerts

Surgent's Handbook for Mastering Basis, Distributions, and Loss Limitation Issues for S Corporations, LLCs, and Partnerships (E2512051)

OVERVIEW

DESIGNED FOR

BENEFITS

HIGHLIGHTS

TAKE THEIR WORD FOR IT…

COURSE LEVEL

PREREQUISITES

ADVANCE PREPARATION

ADDITIONAL NOTES

SESSIONS

INSTRUCTOR

Joseph P. Nicola, CPA, CVA (4.5)

Event Cancelled

PRICING

Event Cancelled

ADDITIONAL OPTIONS

Request a Reminder

ALSO AVAILABLE

COURSE DEVELOPER

AREAS OF INTEREST

ALSO QUALIFIES FOR

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Joseph P. Nicola, CPA, CVA
(4.5)