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Friday, August 29, 2025 Live Webcast

Guide to Partner Capital Account Reporting (X1-CPMB-2025-01-WEBNR-241-01)

1:00 PM - 3:00 PM EDT
webcast

Vendor Platform

2 CPE Credits in TX

OVERVIEW

Tax practitioners are responsible for presenting partner capital accounts on the tax basis. But what does this mean and how have rules changed in recent years regarding partner capital accounts? This course covers exactly that. For tax practitioners preparing partnership 1065 forms, this course explains these complex rules in practical and understandable terms.

DESIGNED FOR

Any tax practitioner who will be preparing partnership income tax returns

BENEFITS

  • Understand how a partner determines and reports his or her tax basis capital account

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

COURSE LEVEL

Basic

PREREQUISITES

Basic understanding of tax rules relating to partnerships and partners

ADVANCE PREPARATION

None

ADDITIONAL NOTES

  • Qualifies for IRS credit

INSTRUCTOR

Michael Tucker

Michael J. Tucker, CPA, Ph.D., J.D., LL.M.

Ph.D., JD, CPA

Professional Education Network

Michael J. Tucker is an employee of Surgent McCoy CPE, LLC and a consultant for the accounting firm of T.M. Byxbee Co. in Hamden, CT. He is the author of many professional articles and a veteran TV and live-seminar presenter. In addition, he heads up Surgent McCoy's webinar efforts, where he writes and hosts many of the webinars Surgent McCoy sponsors and presents. Mr. Tucker was a professor at Quinnipiac University in Hamden, CT and worked with KPMG Peat Marwick and Deloitte & Touche. Mr. Tucker received his J.D. from New York University, his LL.M. from Georgetown University Law Center, and his Ph.D. from the University of Houston.

PRICING

$89.00 - Member

$109.00 - Nonmember

Register Today


Note: Online pre-registration will close on August 29 at 12:30 PM.

ADDITIONAL OPTIONS

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COURSE DEVELOPER

Surgent

AREAS OF INTEREST

ALSO QUALIFIES FOR