Partnership and S Corporation - Basis and Distribution Issues

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  • Date/Time
    • Mar 6, 2025
    • Sign In: 8:30am (MT)
    • Program: 9:00am - 4:30pm (MT)
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  • Location
    • Your Computer
      Your Space
      ISCPA / CalCPE Webinar, ID 00000
  • Credits
    • 8.00
  • Credit Type(s)
    • Taxes (Technical) (8.00)
  • Prerequisites
    • General tax knowledge

  • Vendor
    • California CPA Education Foundation
  • Level
    • Intermediate
  • Fields of Study
    • Taxes

Description

Basis is a fundamentally important issue when dealing with pass-through entities, as it impacts the equity holder's ability to deduct losses and/or receive distributions without a negative tax impact. As well, distributions from the different types of pass-through entities are subject to differences in treatment that can have a major impact on the tax liability of the client. This course will look at the rules on calculating basis, limitations on loss deductions (including at-risk rules), and the treatment of distributions.

  • Presenters - Edward K Zollars
  • Designed For

    Practitioners who advise clients holding interests in pass-through entities and the pass-through entities themselves.

    Objectives

    • Understand inside and outside basis and gain/loss issues on formation
    • Perform calculation of basis based on annual activities of the pass-through entities
    • Understand how to structure distributions to avoid unpleasant, surprise tax liabilities

    Advanced Prep

    None

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    Leaders

    CALCPE Panel

    No Biography Available

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