Partnership/LLC Taxation: Tax Basis Capital Accounts (C51028)


Cancellation Policy

Please note that this webinar Is from a third party vendor, CPA Crossings. We strongly recommend registering no later than one-hour before the webinar begins. Please contact CPA Crossings webinar hotline if you do Not receive your webinar invitation via email within five minutes after registering:  877-370-2220 ext. 1. Thank you.

Date(s):

09/21/2021

Registration Open:

12:00 AM - 2:30 PM

Time:

2:30 PM - 4:30 PM

Facility:

 Online

Meeting Type:

Webinars

CPE Credit:

2.00

Field(s) Of Study:

Taxation (2.00)

Level of Knowledge:

Intermediate

Price:

Member: $79.00
Nonmember: $99.00

Individual Discounts:

Not Available

Overview

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

Speaker(s)

Prerequisites

Basic working knowledge of partnership taxation.