Partnership/LLC Taxation: Tax Basis Capital Accounts

8:30 am–10:10 am ET

# of CPE Credits



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.


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


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


Event Speaker(s)

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

Additional Event Information

Technical Support
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*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

Tuesday, September 6, 2022 (8:30 am–10:10 am ET)
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Monday, November 28, 2022 (8:30 am–10:10 am ET)
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Monday, February 20, 2023 (1:00 pm–2:40 pm ET)
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Level: Intermediate

Event Code:WB107822

Registration Fees

RegistrationEarly BirdRegular
NCACPA MemberN/A$85.00
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