November 17, 2022


Webinar


2 Total CPE Credits

product-artwork-1231354

Partnership/LLC Taxation: Tax Basis Capital Accounts

Learning Objectives

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

  • Apply recent tax developments affecting the partnership entity and its partners

Major Topics

The major topics that will be covered in this class include:

  • Discuss the impact of the Section 199A flow-through entities deduction on partnerships and their partners
  • The meaning of a "tax basis capital account"
  • How the financial accounting and tax capital accounts differ from one another
  • Determine a partner's share of the partnership's liabilities
  • Distinguish "recourse" loans from "nonrecourse" loans
  • What are "qualified nonrecourse financing" loans and how they affect partners
  • Section 704 "built-in gain or loss" rules and how they impact Schedule K-1 reporting
  • Section 4655 "at risk" rules and how they impact Schedule K-1 reporting

CPE Credits Available

2
Total CPE
2
Taxes

Things to Know About This Course

Course Level

  • Intermediate

Prerequisites

Basic working knowledge of partnership taxation.

Advanced Preparation

None

Intended Audience

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

Provider

CPA Crossings

This event has ended.