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Tuesday, May 18, 2021 Live Webcast

Partnership/LLC Taxation: Tax Basis Capital Accounts (X2-19726)

9:30 AM - 11:30 AM EDT
webcast

Vendor Platform

2 CPE Credits in TX

OVERVIEW

DESIGNED FOR

CPAs in public practice and industry seeking an update on the latest tax developments affecting partnerships.

BENEFITS

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

  • Know how to determine a partner's share of the partnership's liabilities
  • Understand what "qualified nonrecourse financing" loans are and how they affect partners
  • Provide an update of the recent changes affecting the partnership entity and its partners

HIGHLIGHTS

The major topics covered in this class include:

  • Discussion of the impact of the Section 199A flow-though entities 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
  • Review of the Section 704 "built-in gain or loss" rules and how they impact Schedule K-1 reporting
  • Review of the Section 465 "at-risk" rules ad how they impact Schedule K-1 reporting

COURSE LEVEL

Intermediate

PREREQUISITES

Basic working knowledge of partnership taxation.

ADVANCE PREPARATION

None

INSTRUCTOR

Steven Dilley

Steven C. Dilley, CPA, J.D., Ph.D.

Steven C. Dilley, CPA, J.D., Ph.D. 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 Ph.D. 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.

PRICING

$69.00 - Member

$89.00 - Nonmember

Pre-Registration Closed

Online pre-registration for this event is now closed.

ADDITIONAL OPTIONS

Print a registration form

COURSE DEVELOPER

CPA Crossings

AREAS OF INTEREST