This comprehensive training is designed to get the accountant up to speed quickly in the area of basis calculations and distribution planning for the owners of a partnership (i.e., partners and LLC members).
Once participants have completed this session they should be able to:
• List the 3 main reasons for calculating a partner/member’s basis in a partnership/LLC
• Calculate the basis for partners and members of a LLC
• Calculate losses allowed from at-risk activities
• Review the Form 1065 Schedule K-1 to determine how the line items affect basis calculations and get reported on the individual owner’s Form 1040
This session is taught using a Hands-On methodology. Real world examples and cases are used to demonstrate the complex income tax code and regulations to enhance the participants learning experience. Topics include but are not limited to:
Who Should Attend?
Tax professionals that need an in-depth training course on basis calculations and distributions rules for partnerships and their owners.
Area of Study:
Basic understanding of individual income taxation
Group Internet Based
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Training for Business Professionals
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Basis Calculations for Partners & LLC Members