Skip to main content

2024 Partnership Checkup: Key Tax Issues & Forms Reporting

-

Add to Calendar

TBD

4.0 Credits

Member Price $129

Non-Member Price $129

Overview

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, as well an overview of K-2 and K-3 reporting requirements and effective dates.

**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.

Highlights

  • Clarify the importance of partnership capital accounts and partnerships debt on partner's tax basis; Impact of contributed property
  • Explain the use of both "inside" and "outside” basis determination
  • Explain the importance of shareholder loans to the entity
  • Discuss how basis is impacted by distributions of corporation property and the sale/or liquidation of the S corporation interest
  • Comprehensive examples illustrate the mechanics of the basis determination process

Prerequisites

Basic working knowledge of partnership taxation

Designed For

CPAs working in public accounting firms and/or working for within a partnerships

Objectives

  • Identify recent tax developments impacting the partnership entity and its partners
  • Identify potential pitfalls and planning opportunties

Preparation

None

Non-Member Price $129

Member Price $129