Advanced Partnership/LLC Workshop: How to Do Optional Step-Up in Basis Under §754 and Related Provisions (Z1-APLW-2021-01-SSDL)

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300 Minutes

On Demand - Audio

6 CPE Credits in TX

This course explores the practical issues in the many instances in which a step-up in basis can create tax advantages for partners and members. This course includes case studies to illustrate the critical points.

DESIGNED FOR

CPAs in public accounting who work extensively with LLC and partnership tax issues.

BENEFITS

Identifying when an election to adjust basis will be available
Determining when the basis adjustment must be made or may be made without an election
Learning how to make the calculations to determine a step-up and allocate that step-up among partnership assets
Examining practical examples dealing with a sale of a partnership interest and the effects of §734(b)
Exploring the alternatives to electing a basis adjustment
Understanding a distribution of property and when an inside basis adjustment can be considered
Studying examples dealing with sale of assets vs. sale of partnership interests and issues with hot assets
Finding out how to keep track of the “books” for tax preparers when the inside basis adjustment is made, and how to flow through adjustments through a tax return and K-1
Identifying the changes to partnership tax law effected by the Tax Cuts and Jobs Act of 2017

HIGHLIGHTS

Distinguish the tax consequences of a partnership interest sale and of a partnership asset distribution with and without a §754 election
Identify circumstances when a §754 election may be beneficial
Calculate the basis adjustments to individual partnership properties when a §754 election is made

COURSE LEVEL

Advanced

PREREQUISITES

Experience dealing with partnership and LLCs; one or more intermediate courses on partnerships and LLCs

ADVANCE PREPARATION

None

PRICING

$159.00 - Member

$179.00 - Nonmember

Purchase

ADDITIONAL OPTIONS

Remind me to register

Print a registration form

COURSE DEVELOPER

Surgent

Advanced Partnership/LLC Workshop: How to Do Optional Step-Up in Basis Under §754 and Related Provisions (Z1-APLW-2021-01-SSDL)

OVERVIEW

DESIGNED FOR

BENEFITS

HIGHLIGHTS

COURSE LEVEL

PREREQUISITES

ADVANCE PREPARATION

SESSIONS

PRICING

ADDITIONAL OPTIONS

Request a Reminder

COURSE DEVELOPER

AREAS OF INTEREST

Data Alerts

Advanced Partnership/LLC Workshop: How to Do Optional Step-Up in Basis Under §754 and Related Provisions (Z1-APLW-2021-01-SSDL)

OVERVIEW

DESIGNED FOR

BENEFITS

HIGHLIGHTS

COURSE LEVEL

PREREQUISITES

ADVANCE PREPARATION

SESSIONS

PRICING

ADDITIONAL OPTIONS

Request a Reminder

COURSE DEVELOPER

AREAS OF INTEREST

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