Mastering Partnership Basis: Inside and Outside Basis

This course will provide a detailed analysis of how to determine a partner's tax basis for a partnership interest, with an explanation of the use of both "inside" and "outside" basis determination. An illustrated example with filled in forms will demonstrate how the process works and the 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 that will be covered in this course include:

• Explain the use of both "inside" and "outside” basis determination.
• How to calculate tax basis capital accounts, including when the entity is formed, including the impact of contributed property.
• Clarify the importance of partnership capital accounts and partnerships debt on partner's tax basis.
• Explanation of how basis is impacted distributions and by sale and/or liquidation of the partnership interest.
• Comprehensive example to illustrate the mechanics of the basis determination process.

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.