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Partnership Investments - How to Calculate the Owner's Basis - 6011
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A detailed analysis of the calculations related to determining a partner's tax basis for a partnership interest using the Form 1065, Schedule K-1 information. An illustrated example with filled in forms will demonstrate how the process works and its many potential pitfalls.

8/15/2016
When: Monday, August 15, 2016
12:00 PM - 2:00 PM
Where: Webinar/Webcast
United States
Contact: April Deneault

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Acronym TDPIH2
CPE 2 hours
Category
Taxation
Level Intermediate
Vendor Federal Tax Workshops, Inc.
Who should attend

CPAs working in public accounting firms and/or working for partnerships.

Prerequisite
None
Fees: Early Bird
Standard
Member N/A
$79
Non-Member: N/A
$79

Description: 

A detailed analysis of the calculations related to determining a partner's tax basis for a partnership interest using the Form 1065, Schedule K-1 information. An illustrated example with filled in forms will demonstrate how the process works and its many potential pitfalls.



Specific topics include:

  • Discusses the calculation of basis when the entity is formed, including the impact of contributed property.
  • Explains the use of both "inside" and "outside" basis determination.
  • Clarifies the importance of partnership capital accounts and partnerships debt on partner's tax basis.
  • Uses a comprehensive example to illustrate the mechanics of the basis determination process.
  • Discusses how basis is impacted by distributions of partnership property.
  • Explains how basis is impacted by sale and/or liquidation of the partnership interest.

Objectives:

  • To provide a thorough review and update of the tax issues related to LLC/partnership basis from formation through operations and concluding with sale and/or liquidation

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