Basis Calculations & Distributions for Pass-Thru Entity Owners: Schedule K-1 Analysis

Basis Calculations & Distributions for Pass-Thru Entity Owners: Schedule K-1 Analysis (3-702)

REGISTRATION STATUS: CLOSED -- Please contact the VSCPA at or (800) 733-8272 for availability.
Tuesday, June 27, 2017
Materials Selection
I want to download the manual (included in the registration fee)

* SESSION FULL * I want a copy of the printed manual (additional $10 fee)

This comprehensive case-driven training is designed to get the accountant up to speed quickly in the area of basis calculations and distribution planning for the owners of pass-thru entities (i.e., S corporations, partnerships and limited liability companies (LLCs)). The cornerstone of this course is the line-by-line analysis of the Schedule K-1s and how it affects the basis calculations.

Delivery Method - Group Live

Once participants have completed this session they should be able to:  List the 3 main reasons for calculating a shareholder's basis in a S corporation and partner/member's basis in a partnership/LLC  Calculate the stock and debt basis for S corporation 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

This session is taught using a Hands-On methodology. Real world examples and cases are used to demonstrate the complex income tax code and regulations to enhance the participants learning experience. Each attendee will receive the most comprehensive reference manual with numerous practice aids, real world examples, and case studies. Topics include but are not limited to:  Line-by-line analysis of the Schedule K-1s to determine how the items affect a S shareholder's stock and debt basis and a partner/member's outside basis and where the items get reported on Federal individual income tax return  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 corporation shareholder under the final regulations  The tax ramifications of repaying loans to S corporation shareholders and on open account debt  How recourse and non-recourse debt effect a partner or member's basis calculations and amount at-risk

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


Date:Tuesday, June 27, 2017
Time:8:00 AM - 3:30 PM (Registration at 7:30 AM) ET
Facility:Waterford at Fair Oaks, Fairfax
CPE Credit:8.00 Taxation
Instructor: Patrick Garverick
Vendor:Phoenix Beach, LLC
Course Level:Intermediate
Best Price:$389.00 VSCPA members, $489.00 nonmembers
Seminar Volume Discount:($25)

Advanced Preparation:


Virginia Society of CPAs (VSCPA) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website:

For more information regarding refund, complaint and program cancellation policies, please visit or call (800) 733-8272.