Basis/Distributions for Pass-Through Entities: Simplifying the Complexities - MN (BADI219)
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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 addresses the rules used to determine basis for partnerships and S corps 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.

 Export to Your Calendar 12/18/2019
When: December 18, 2019
8:30 AM until 4:30 PM
Where: Hampton Inn
601 Mane Street
West Monroe, Louisiana  71292
United States
Presenter: Andew Blum


Online registration is available until: 12/18/2019
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Acronym BADI219
CPE 8 hours
Vendor AICPA
Category
Taxation
Level Intermediate
Yellow Book? No
Registration Early Bird Standard
Members* $315 $365
CPA Non-Members $415 $465
The Early Bird rate is good through 12/3.

*The member rate applies to LCPA members, other state CPA society members, and non-CPA staff of LCPA members. To register online, use the ‘Register’ button above. To register by phone, call the LCPA Member Service Center at 800.288.5272 or 504.464.1040, Monday through Friday, 8am to 5pm.

Texas CPAs: Our Texas State Board of Public Accountancy Sponsor number is #010423.

AICPA members receive an additional $30 off the registration fee for this course.

Discount made at the time of checkout. Qualifying members should have received a promo code via email — if you are unsure whether you qualify, or you lost/never received your code, please call the LCPA Member Service Center at 504.464.1040 or 800.288.5272 to get your promo code.

Course 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 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.

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.

Major Topics

  • 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

Designed For: CPA firm managers, partners, and other tax practitioners who advise clients concerning issues related to the computation of pass-through entity basis, loss limitations, sales of interests and distributions

Prerequisite: Experience in business taxation