Partnerships/LLCs: Understanding Tax Basis Capital Accounts
Friday, April 11, 2025
4-5:55 p.m. Central
2 CPE (2 technical) | 2 IRS CE
Course code: 25WA-0347
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This program addresses the most recent developments impacting partnerships operating as LLCs, with a focus on legislative, administrative, and tax form changes. Emphasis will be placed on partners "tax basis" capital accounts -- now required for tax form reporting.
- 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.
Major subjects
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Discussion of the impact of the Section 199A flow-through entities deduction on partnerships and their partners
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The meaning of a "tax basis capital account" -- how do the financial accounting and tax capital accounts differ from one another
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How to determine a partner's share of the partnership's liabilities
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Distinguishing "recourse" loans from "nonrecourse" loans
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What are "qualified nonrecourse financing" loans and how they affect partners
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Review of the Sec. 704 "built-in gain or loss" rules and how they impact Schedule K-1 reporting
Learning objectives
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Identify recent changes impacting the partnership entity and its partners
Who should take this program?
- CPAs in public practice and industry seeking an update on the latest tax developments affecting partnerships
Pricing
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Standard Member Fee |
$79.00
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 Standard Nonmember Fee |
$79.00
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