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Partnerships: How to Calculate Partner Basis

ID: 60594
Thursday June 27, 2024 12:00PM - 2:00PM
Topics: Tax
NON-MEMBERS$111.25
MEMBERS$89.00
YOUR PRICE$111.25

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. An illustrated example with filled in forms will demonstrate how the process works, including its many potential pitfalls. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

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 the importance of partnership capital accounts and partnerships debt on partner's tax basis
  • Comprehensive example to illustrate the mechanics of the basis determination process
  • Explanation of how basis is impacted by distributions of partnership property and sale and/or liquidation of the partnership interest
Who will benefit: CPAs working in public accounting firms and/or working for partnerships.

This webcast is hosted on CPA Crossing platform. Attendees will receive instructions on how to attend the webcast via e-mail.