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Basis/Distributions for Pass-Through Entities: Simplifying the Complexities

  • 10/12/2018
  • 8:00 AM - 4:00 PM
  • WEBINAR AICPA

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The IRS is scrutinizing, more closely than ever, the basis owners have and  the transactions for which the computation of basis is required. This  course, which has been updated to include provisions of the Tax Cuts and Jobs  Act of 2017, addresses the rules used to determine basis for partnerships and  S Corporations, and puts the computation of basis in contexts that often  come under scrutiny – loss limitations, distributions, and sales of an interest,  among others. Learn the crucial rules for computing the adjusted basis and the tax  treatment of distributions from pass-through entities, such as partnerships and S  Corporations. Focus on the computation of the basis and the at-risk amount for  these entities. Become familiar with correct allocation of liabilities among partners,  the types and amounts of income that can result from distributions and sales of  interests, and the basis of assets distributed from pass-through entities.    

Topics discussed 
• Structuring cash and property distributions to avoid unexpected tax  consequences  • Adjusting basis in partnership assets to save future taxes  • Measuring the gain or loss on the sale of an interest in a partnership or  S Corporation  • Minimizing recognition of ordinary income on sale of an interest  • Maximizing the amount of the pass-through losses deductible by the partner/  shareholder

When you complete this webcast, you will be able to: 
• Calculate the basis of a partnership interest or S Corporation stock ownership.  • Determine the amount and the character of income or loss the partner  or shareholder should recognize, in the event of distributions of property  or money.  • Apply the basis, at-risk, and passive activity loss limitations to pass-through  losses from partnerships, LLCs, and S Corporations.  • Determine the tax treatment of sales of either partnership interests or  S Corporation stock.  • Calculate the basis of partnership or LLC property following certain  distributions and transfers of interests in the entity.

Designed For:

Level: Intermediate

Instructor: Kevin M. Krantz CPA

Developer: AICPA

CPE Credits: 8

Area of Study: Taxes  8

Prerequisite: Experience in business taxation




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