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Basis Calculations & Distributions for Pass-Through Entity Owners: Schedule K-1 Analysis 4172281B
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Get up to speed quickly with this comprehensive case-driven training course which focuses on basis calculations and distribution planning for the owners of pass-thru entities (i.e., S corps, partnerships and LLCs). Take a line-by-line analysis of the Schedule K-1 and how it affects the basis calculations. Hands-on methodology, real-world examples and cases are used to demonstrate the complex income tax code and regulations to enhance the learning experience.

11/16/2017
When: 9:30 AM to 5:00 PM
Where: Webinar/Webcast
United States
Presenter: Mark Vanden Berge
Contact: April Deneault
801-466-10573


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Curriculums:   Individual Tax Planning and Return Preparation

NASBA Credit Category:  Taxes

CPE Hours:  8

Description

Get up to speed quickly with this comprehensive case-driven training course which focuses on basis calculations and distribution planning for the owners of pass-thru entities (i.e., S corps, partnerships and LLCs). Take a line-by-line analysis of the Schedule K-1 and how it affects the basis calculations. Hands-on methodology, real-world examples and cases are used to demonstrate the complex income tax code and regulations to enhance the learning experience. Each attendee will receive a comprehensive reference manual with numerous practice aids, real-world examples and case studies.

Note: At the request of the author, course materials for this program cannot be printed. Please save the materials to your desktop prior to the event. Adobe Reader Version XI is a prerequisite for downloading materials. A printed course book can be purchased for $50 (including shipping and handling). Choose the option to purchase the book when registering for the course. Book purchase must be made five or more business days prior to the presentation date to ensure it arrives in time. The book will be shipped directly to your preferred address. The eBook will still be accessible via “My Events” on calcpa.org.

Materials are provided as an ebook



Major Subjects

  • Emphasize any new legislation affecting owners of pass-through entities.
  • The three loss and deduction limitations on the owner’s individual income tax return (i.e., basis, at-risk and other Form 1040 limitations).
  • How cash or non-cash distributions affect the basis calculations and whether or not they are taxable to the owners.
  • Compare the tax treatment of the sale of a shareholder’s stock in a S corporation and a partner’s interest in a partnership.
  • What constitutes debt basis for a S corp shareholder under the final regulations.
  • Tax ramifications of repaying loans to S corp shareholders and on open account debt.
  • How recourse and non-recourse debt affect a partner or member’s basis calculations and amount at-risk.

Objectives

  • Identify the three main reasons for calculating a shareholder’s basis in a S corp and partner/member’s basis in a partnership/LLC.
  • Calculate the stock and debt basis for S corp shareholders.
  • Calculate the basis for partners and members of a LLC.
  • Calculate losses allowed from at-risk activities.
  • Review the Form 1120S and Form 1065 Schedule K-1s to determine how the line items affect basis calculations and get reported on the individual owner’s Form 1040.

Level:  Intermediate

Designed For

Tax professionals who need an in-depth training course on basis calculations and distributions rules for S corp, partnerships, LLCs and their owners.

Advanced Prep:

None.

Prerequisite

Basic understanding of individual income taxation.

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