Upon completion of this course, you will be able to:
- Define the tax consequences and various liabilities for partnerships, LLCs and S corporations.
- Identify strategies to calculate and report basis for tax basis capital accounts and shareholder stock and loans.
- Apply planning opportunities and potential pitfalls.
This course examines the critical issues and special opportunities facing
partnerships and their partners, as well as the relationship between limited
liability companies and partnerships, with a focus on reporting tax basis
capital accounts. The new IRS guidelines on shareholder stock and loan basis
reporting will be discussed, including the tax structure of S and C corporations
and the significant impact of Section 199A flow-through entities deduction on S
corporations.
Prerequisites:
Basic working knowledge of partnerships and S corporation taxation
Advanced Preparation:
None
PRICING DETAILS
Register early to take advantage of the
best price! Please note, discounted pricing is already reflected in the online
price. No promo code is needed.
Through May 10: $289 MICPA Members / $439
Non-Members
May 11 - May 24: $309 MICPA Members / $459 Non-Members
May
25 - June 7: $329 MICPA Members / $479 Non-Members
- Recent tax legislation, rules, and developments impacting partnership and S-corporations.
- S corporation shareholder basis in stock and debt.
- Importance of capital accounts.
- How to calculate and report partner basis.
- Shareholder stock and loan basis reporting.
- New Schedules K-2 & K-3 and filing exceptions.
- Form 1065, Schedules K-1 and M-2.
- Section 163(j) business interest expense limitation.
- S corporation open account debt.
- Limitation of deduction of losses.
- Transfer of partnership interests.
- Filing deadlines and extensions.
Practitioners and members in industry seeking update on basis reporting and on other thorny partnership and S corporation issues.
- Taxes
- Douglas J. Van Der Aa
Member
Non-Member