Partnership/LLC Taxation: Tax Basis Capital Accounts
Monday, April 28, 2025
12:30-2:30 p.m. Central
2 CPE (2 technical)
Course code: 25WX-0340
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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. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.
Major subjects
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Discuss 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"
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How the financial accounting and tax capital accounts differ from one another
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Determine a partner's share of the partnership's liabilities
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Distinguish "recourse" loans from "nonrecourse" loans
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What are "qualified nonrecourse financing" loans and how they affect partners
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Section 704 "built-in gain or loss" rules and how they impact Schedule K-1 reporting
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Section 4655 "at risk" rules and how they impact Schedule K-1 reporting
Learning objectives
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Apply recent tax developments affecting 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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$89.00
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$89.00
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