Webinar

Partnership Essentials: Tax Basis Capital Accounts

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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.

Major subjects

• 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

Learning 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

Who should take this program?

• Practitioners with partnership clients and those seeking knowledge on thorny partnership issues

Pricing

Our records indicate you are a nonmember. If you register, you will be charged $79.00 (Standard Nonmember Fee). Members: Please log in to receive member fee.

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