A detailed analysis of the calculations related to determining a partner's tax basis for a partnership interest. How to use the Form 1065 and Schedule K-1 information for basis determination will be reviewed.
DESIGNED FOR
CPAs working in public accounting firms and/or working for partnerships.
BENEFITS
After attending this presentation you will be able to...
- Apply the latest tax provisions related to LLC members/partners basis from formation through operations and concluding with sale and/or liquidation
- Calculate tax basis capital accounts
HIGHLIGHTS
The major topics covered in this class include:
- How to calculate the basis when the entity is formed, including the impact of contributed property
- Explains the use of both "inside" and "outside" basis determination
- Clarifies
COURSE LEVEL
Intermediate
PREREQUISITES
Basic working knowledge of partnership taxation.
ADVANCE PREPARATION
None