Partnership Essentials: Tax Basis Capital Accounts
Overview
This course examines the critical issues and special opportunities facing partnerships and their partners, with a focus on reporting tax basis capital accounts.
**Please Note: If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to kori.herrera@acpen.com.
Delivery Method: Individual webcast
CPE Credit: Taxes
Program Level: Intermediate
Highlights
- Importance of tax basis capital accounts
- Reporting negative tax basis
- Tax accounting for property contributed to a partnership
- Effect of the Ceiling Rule
- Allocation of depreciation to partners
- Alternative and Remedial Methods
- Effect on financial capital accounts
- Form 1065, Schedule K-1
Prerequisites
Basic working knowledge of partnerships and LLCs taxation
Designed For
Practitioners with partnership clients and those seeking knowledge on thorny partnership issues
Objectives
- Define the tax consequences and various liabilities for both partnerships and LLCs
- Apply rules for reporting tax basis capital accounts
- Identify planning opportunities and potential pitfalls
Preparation
None
Leader(s):
Leader Bios
Doug Van Der Aa, Federal Tax Workshops
Douglas J. Van Der Aa, CPA, JD, has been a highly rated speaker and seminar leader for CPA Associations and other organizations throughout the country for more than 18 years. Doug has over 25 years of professional experience, including tax practice in CPA firms and the practice of transactional business and real estate law as an attorney. He taught for 12 years as an Adjunct Instructor and for one year as Assistant Professor of Accounting and Taxation for Grand Valley State University's Seidman College of Business, where he taught in both the undergraduate and MST programs.
Non-Member Price $109.00
Member Price $79.00