Partnership/LLC Taxation: Understanding Tax Basis Capital Accounts
Total Credits: 2 including 2 Taxes - Technical
- Average Rating:
- Not yet rated
- Categories:
- ACPEN Tax Institute | IRS Approved | Tax
- Faculty:
- Steven C. Dilley, CPA, JD, PhD
- Course Levels:
- Intermediate
- Duration:
- 2 Hours
- License:
- Product Setting: Expires 30 day(s) after program date.
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 - now required for tax form reporting.
*Please Note: If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Coursw Materials Tab and submit to kori.herrera@acpen.com
Basic Course Information
Major Subjects- 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" - 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
- Section 704 "built-in gain or loss" & ules and how they impact Schedule K-1 reporting
- Section 465 "at risk" rules and how they impact Schedule K-1 reporting
Learning Objectives
- Identify recent changes impacting the partnership entity and its partners
- Apply rules for reporting partner tax basis capital accounts
- Apply planning opportunities
- Identify potential pitfalls
Course Materials
| IMPORTANT_CPE Credit Instructions_Read Before Webcast_Updated_2_2025 (442.6 KB) | Available after Purchase | ||
| Partnership/LLC Taxation: Understanding Tax Basis Capital Accounts Handout (3.4 MB) | Available after Purchase | ||
| IRS Credit Instruction (267 KB) | Available after Purchase | ||
Faculty
Steven C. Dilley, CPA, JD, PhD Related Seminars and Products
Steven C. Dilley, CPA, JD, PhD is President of Federal Tax Workshops, Inc., East Lansing, Michigan, where for the past 36 years, his organization has prepared continuing professional education materials and presented seminars for accountants and attorneys throughout the United States. He is nationally known for his knowledge of the financial, accounting, and tax problems of the closely held business. He has published numerous articles on these topics. In addition, Steve is a Professor of Accounting at Michigan State University, East Lansing, where he teaches tax accounting and was nominated in 2004 for the "Educator of the Year Award." He obtained his PhD in accounting, law degree and an undergraduate accounting degree from the University of Wisconsin-Madison. He is a member of the Michigan Association of CPAs, Wisconsin Bar Association, The American Accounting Association, AICPA, American Tax Association, and Hawaii Association of Public Accountants.
Dates
|
Wed, May 07, 2025 - 02:00pm to 03:56pm CDT
|
|
Tue, May 27, 2025 - 04:00pm to 05:56pm CDT
|
|
Thu, Jun 05, 2025 - 08:00am to 09:56am CDT
|
|
Tue, Jun 17, 2025 - 10:00am to 11:56am CDT
|
|
Wed, Jun 25, 2025 - 12:00pm to 01:56pm CDT
|
|
Mon, Jul 07, 2025 - 02:00pm to 03:56pm CDT
|
|
Thu, Jul 24, 2025 - 06:00pm to 07:56pm CDT
|
|
Fri, Aug 08, 2025 - 08:00am to 09:56am CDT
|
|
Sat, Aug 23, 2025 - 10:00am to 11:56am CDT
|
|
Fri, Sep 05, 2025 - 12:00pm to 01:56pm CDT
|
|
Thu, Sep 25, 2025 - 02:00pm to 03:56pm CDT
|
|
Tue, Oct 07, 2025 - 04:00pm to 05:56pm CDT
|
|
Wed, Oct 22, 2025 - 08:00am to 09:56am CDT
|
|
Thu, Nov 06, 2025 - 10:00am to 11:56am CST
|
|
Mon, Nov 24, 2025 - 12:00pm to 01:56pm CST
|
|
Thu, Dec 04, 2025 - 02:00pm to 03:56pm CST
|
|
Sat, Dec 13, 2025 - 04:00pm to 05:56pm CST
|
|
Mon, Dec 29, 2025 - 08:00am to 09:56am CST
|
|
Wed, Jan 07, 2026 - 10:00am to 11:56am CST
|
|
Thu, Jan 22, 2026 - 06:00pm to 07:56pm CST
|
|
Tue, Feb 03, 2026 - 02:00pm to 03:56pm CST
|
|
Wed, Feb 18, 2026 - 04:00pm to 05:56pm CST
|
|
Wed, Mar 04, 2026 - 08:00am to 09:56am CST
|
|
Thu, Mar 19, 2026 - 10:00am to 11:56am CDT
|
|
Thu, Apr 09, 2026 - 12:00pm to 01:56pm CDT
|
|
Fri, Apr 24, 2026 - 02:00pm to 03:56pm CDT
|
Additional Info
Basic Course Information
Prerequisites Basic working knowledge of business and partnership taxationAdvanced Preparation
None
Designed For CPAs in public practice and industry seeking an update on the latest tax developments impacting partnerships and LLCs
Original Recording Date 04/2025
Yellow Book No
Course Developer Federal Tax Workshop
Date Added to Catalog 03/11/2025
Additional Information
Complaint Resolution Policy Please contact Anne Taylor for any complaints. anne.taylor@acpen.com, (972-377-8199).Official Registry Statement Business Professionals' Network, Inc. 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
Instructional Delivery Method Live Group Internet Based
Course Registration Requirements Online Registration
Refund/Cancellation Policy Please contact the ACPEN help desk 1-877-602-9877 or help@acpen.com if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer.