Partnership Taxation: Determining the Basis of Partners’ Interest in Partnerships Self-Study Webinar (3 Hours)

Partnership Taxation: Determining the Basis of Partners’ Interest in Partnerships Self-Study Webinar (3 Hours)

CPE Credit: 3 Hours

Price: $159.00

NASBA Field of Study: Taxes

 

Overview

Determining a partner's basis is key to figuring out the taxability of distributions, deductibility of losses, gain/loss on sale of the partnership interest, and other important matters. Using examples and case studies, this self-study program focuses on how to determine the partner's basis in the partnership interest.

 

AGENDA HIGHLIGHTS


  Inside and outside basis

  Basis vs. capital accounts

  Determination of the partner's basis in partnership interest

  Definition of liability for partnership purposes and allocation among partners

  Review of examples and case studies

  Discussion of related IRS court cases

 

LEARNING OBJECTIVE  To show tax professionals how to determine the partner's basis in partnership interest.

PREREQUISITE  Basic knowledge of federal taxation.    ADVANCE PREPARATION  None.    PROGRAM LEVEL  Intermediate.
NASBA FIELD OF STUDY  Taxes.    DELIVERY METHOD  Self-Study.

 

Speakers

SPEAKER


W. Stewart Connard, CPA

Detailed Learning Objectives

• Recognize those factors that will increase and decrease a partner’s basis in his partnership interest

• Identify which individuals within partnerships are typically personally liable for entity debt

• Identify the conceptual method by which recourse debt is allocated

• Identify the characteristics of nonrecourse debt

• Recognize the seven factors necessary to ensure a partner’s payment obligation will be treated as recourse debt

• Identify and characterize the three tiers of nonrecourse debt