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2024 Partnership Essentials: Tax Basis Capital Accounts

Overview

This course examines the critical issues and special opportunities facing partnerships and their partners, with a focus on reporting tax basis capital accounts. 

**Please Note:  If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to kori.herrera@acpen.com.

Prerequisites

Basic working knowledge of partnerships and LLCs taxation

Objectives

  • Define the tax consequences and various liabilities for both partnerships and LLCs
  • Apply rules for reporting tax basis capital accounts
  • Identify planning opportunities and potential pitfalls

Highlights

  • Importance of capital accounts
  • Reporting negative tax basis
  • Tax accounting for property contributed to a partnership
  • Pre-contribution appreciation
  • Effect of the Ceiling Rule
  • Allocation of depreciation to partners
  • Alternative and Remedial Methods
  • Effect on financial capital accounts
  • Form 1065, Schedule K-1
  • Tax basis capital accounts

Register Now

Materials are generally available 3 days in advance of an event. Once you have downloaded the manual, we are unable to cancel your registration.

Event Code:

6116019

2 CPE Credits
Tax: 2 Credits

Registration

Member Price:
$79
Non-member Price:
$109

Registration is open through 12/27.

Friday, December 27th

2:00pm to 4:00pm

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Instructor

Douglas Van Der Aa