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Basis/Distributions for Pass-Through Entities: Simplifying the Complexities 1618300
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The IRS is scrutinizing, more closely than ever, the basis owners have and the transactions for which the computation of basis is required. This course, which has been updated to include provisions of the Tax Cuts and Jobs Act of 2017, addresses the rules used to determine basis for partnerships and S Corporations, and puts the computation of basis in contexts that often come under scrutiny – loss limitations, distributions, and sales of an interest, among others. Learn the crucial rules f

10/12/2018
When: 7:00 AM
Where: WEBINAR
AICPA
1618300:FFB56EDD4A7C3C68ECBDAB318521E25D
United States
Contact: April Deneault
8018346634


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CPE 8 hours
Category

Auditing

Level Intermediate
Vendor AICPA
Prerequisite
Experience in business taxation
Fees: Early Bird
Standard
Member N/A
$249
Non-Member: N/A
$319

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 
The IRS is scrutinizing, more closely than ever, the basis owners have and  the transactions for which the computation of basis is required. This  course, which has been updated to include provisions of the Tax Cuts and Jobs  Act of 2017, addresses the rules used to determine basis for partnerships and  S Corporations, and puts the computation of basis in contexts that often  come under scrutiny – loss limitations, distributions, and sales of an interest,  among others. Learn the crucial rules for computing the adjusted basis and the tax  treatment of distributions from pass-through entities, such as partnerships and S  Corporations. Focus on the computation of the basis and the at-risk amount for  these entities. Become familiar with correct allocation of liabilities among partners,  the types and amounts of income that can result from distributions and sales of  interests, and the basis of assets distributed from pass-through entities.    Topics discussed
 

Major Subjects

  •  Structuring cash and property distributions to avoid unexpected tax  consequences
  • Adjusting basis in partnership assets to save future taxes
  • Measuring the gain or loss on the sale of an interest in a partnership or  S Corporation
  • Minimizing recognition of ordinary income on sale of an interest
  • Maximizing the amount of the pass-through losses deductible by the partner/  shareholder

Objectives

  •  Calculate the basis of a partnership interest or S Corporation stock ownership.
  • Determine the amount and the character of income or loss the partner  or shareholder should recognize, in the event of distributions of property  or money.
  • Apply the basis, at-risk, and passive activity loss limitations to pass-through  losses from partnerships, LLCs, and S Corporations.
  • Determine the tax treatment of sales of either partnership interests or  S Corporation stock.
  • Calculate the basis of partnership or LLC property following certain  distributions and transfers of interests in the entity.

 

 

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