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Surgent's Understanding Partnership Taxation: Types of Basis, Contributions, and Distributions

 Various
 
4.0
Registration is Open
Member Price
$159.00 Regular Registration
Your Price
$167.00 Regular Registration
This course is being offered on multiple dates, listed below. Click the Register button next to your preferred date to register.
 Thu, 06/26/2025 from 1:00 pm to 4:30 pm
 Tue, 07/29/2025 from 9:00 am to 12:30 pm
 Wed, 08/20/2025 from 1:00 pm to 4:30 pm
 Wed, 09/24/2025 from 1:00 pm to 4:30 pm
 Fri, 10/31/2025 from 1:00 pm to 4:30 pm
 Mon, 11/17/2025 from 1:00 pm to 4:30 pm
 Fri, 12/12/2025 from 9:00 am to 12:30 pm
 Wed, 01/07/2026 from 9:00 am to 12:30 pm
 Tue, 02/03/2026 from 1:00 pm to 4:30 pm
Designed For:

Tax practitioners who are looking to improve their knowledge of basis types, the calculation of basis, and the implications of making contributions to a partnership

Prerequisite:

Working knowledge of fundamental partnership tax concepts

Calculating partnership basis is one of the most important things that we do as practitioners. However, it is also one of the most confusing. When we use the term "basis," we really could be referring to one of three different things. This course will explore the differences between inside basis, outside basis, and 704(b) basis. Through several examples and practice problems, we will show you how to easily distinguish among these terms. We will also explore the tax implications of initial contributions of property to a partnership as well as the different types of partnership distributions.

Delivery Method: Individual webcast
CPE Credit: Taxes
Program Level: Intermediate

This course is being offered by a 3rd party vendor and will not be accessible on your My CPE page. Webinar access information will be emailed directly to you by Surgent McCoy.

Objectives

  • Calculate inside basis, outside basis, and 704(b) basis
  • Recognize the concept of substantial economic effect
  • List the three requirements that need to be present for an allocation to be deemed to have economic effect
  • Calculate the reallocation of items of gains and loss under IRC 704(b) when a qualified income offset is present
  • Recognize the tax effects of transferring cash, property, and services to a partnership
  • Recall the tax effects of contributing assets that are encumbered by debt to a partnership
  • List the key rules of thumb to remember when dealing with distributions
  • State the ordering rules for calculating a partner’s tax basis
  • Describe the key differences between liquidating and non-liquidating distributions
  • Determine any applicable tax gains and losses of cash and property distributions
  • State the ordering rules for hybrid distributions that involve both cash and property

Speakers

Advanced Preparation

None

Vendor

The 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: NASBARegistry.org.

For more information regarding refund, complaint, program cancellation or other policies, visit our Registration Policies page or call (800) 733-8272.