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Surgent's Calculating a Partner's or LLC Member's Basis (CPMB)
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Attend this program, it will discuss in a practical way how a partner or member's basis in a partnership (or LLC treated as a partnership) is calculated. It is particularly important for any tax practitioner who deals at even a basic level with partnership distributions of cash & property and/or the sale of a partnership interest. The concept of basis is fundamental to an understanding of almost all aspects of partnership taxation. Note: The Section 754 adjustment is not a topic of this program

9/1/2016
When: Thursday, September 1, 2016
11:00 AM - 1:00 PM
Where: Webinar/Webcast
United States
Contact: April Deneault
801-466-8022


Online registration is closed.
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Acronym CPMB
CPE 2 hours
Category
Taxes
Level Basic
Vendor Surgent
Who should attend

Any tax practitioner with partnerships, multiple member LLCs or partners/members as clients

Prerequisite
Basic understanding of tax rules relating to partnerships and partners
Fees: Early Bird
Standard
Member N/A
$89
Non-Member: N/A
$109

The Member rate applies to UACPA members and reciprocal state society members. To register online, use the ‘Register’ button above. To register by phone, call the UACPA at 801.466.8022, Monday through Friday, 8am to 4pm.

Description 
You should attend this program because it will discuss in a practical way how a partner or member's basis in a partnership (or LLC treated as a partnership) is calculated. This topic is particularly important for any tax practitioner who deals at even a basic level with partnership distributions of cash and property and/or the sale of a partnership interest. The concept of basis is fundamental to an understanding of almost all aspects of partnership taxation. Note: The Section 754 adjustment is not a topic of this program. However, that topic is discussed in great detail in S754, Section 754 Step-Up in Basis: Understanding the Tax Issues for Partnerships and LLCs. For information on this and other webinars covering that topic, please contact Surgent.

Major Topics

  • How to determine partner basis in a partnership or multiple member limited liability company treated as a partnership
  • Specific positive and negative partner/member basis adjustments
  • The ordering rules for making multiple basis adjustments
  • The treatment of recourse and non-recourse liabilities as components of basis

Objectives

  • Understand how a partner/member determines his or her basis
  • Identify and understand the specific negative and positive adjustments to a partner's basis and the ordering rules applicable to such adjustments

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