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Partnership/LLC Taxation: Tax Basis Capital Accounts

8:30 am–10:10 am ET

# of CPE Credits

2

Description

This program addresses the most recent developments impacting partnerships operating as LLCs, with a focus on legislative, administrative, and tax form changes. Emphasis will be placed on partners “tax basis” capital accounts – these are required for 2020 tax form reporting.

Objective

To provide an update of the recent changes affecting the partnership entity and its partners.

Highlights

Discussion of the impact of the Section 199A flow-through entities deduction on partnerships and their partners * The meaning of a “tax basis capital account” and how do the financial accounting and tax capital accounts differ from one another * How to determine a partner’s share of the partnership’s liabilities * Distinguishing “recourse” loans from “nonrecourse” loans * What are “qualified nonrecourse financing” loans and how they affect partners * Review of the Sec. 704 “built-in gain or loss” rules and how they impact Schedule K-1 reporting * Review of the Sec. 465 “at risk” rules and how they impact Schedule K-1 reporting

Who Should Attend

CPAs in public practice and industry seeking an update on the latest tax developments affecting partnerships.

Required Knowledge

Basic working knowledge of partnership taxation.

Advanced Prep

None

Event Speaker(s)

Mr. Steven C. Dilley, CPA, JD, Ph.D. ( Federal Tax Workshops, East Lansing, MI ),

Additional Event Information

Technical Support
Contact NCACPA if you need assistance with your online program. For the quickest results, email the Online Learning Team at [email protected], and a team member will contact you shortly.

If you need assistance with internet access issues, browser capability, or when the NCACPA office is closed* please call Freestone Technical Support at 866-702-3278 or by email at [email protected] .

*NCACPA office hours are 9:00 am–5:00 pm ET. Online Learning Team members will be available via email 30 minutes prior to the start of a live online program.

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Also Available As

Webinar
Tuesday, September 6, 2022 (8:30 am–10:10 am ET)
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Webinar
Friday, December 9, 2022 (8:30 am–10:10 am ET)
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Webinar
Monday, February 20, 2023 (1:00 pm–2:40 pm ET)
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Event Vendor:Federal Tax Workshops
Field of Study:Taxes
Level: Intermediate

Event Type:Webinar
NASBA Instructional Method:Group Internet Based
Event Code:WB101122

Registration Fees

RegistrationEarly BirdRegular
NCACPA MemberN/A$85.00
Non-MemberN/A$110.00
CPE Sponsors LogoThe North Carolina Association of Certified Public Accountants 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: www.nasbaregistry.org/.

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