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CPE Course Details
Partnerships & LLCS: Special Allocations
Wednesday, September 19, 2012
8:30 a.m. - 4:30 p.m. (8:00 a.m. Registration)
Hawaii Society of CPAs
Description:
This course will provide guidance and a thorough understanding of the planning opportunities and pitfalls of special allocations, as well as LLC allocations and the sharing of partnership debt.
Highlights:
  • Allocations of income and loss with respect to contributed property under the §704(c) regulations, using the traditional method, the traditional method with curative allocations, and the remedial allocation method
  • Reverse §704(c) allocations
  • Allocations of income and loss under the primary economic effect test
  • Allocations under the alternate economic effect test
  • Nonrecourse deductions, qualified income offset, and minimum gain chargeback
  • Allocations of income and loss under the partner' interest test
  • Testing for substantiality
  • Allocation of recourse, nonrecourse, and qualified nonrecourse debt
  • Treatment of guarantees, assumptions, and indemnification agreements
  • Allocation of nonrecourse deductions and liabilities, including minimum gain and gain chargebacks
  • Varying interest rule under §706(d)
  • Understanding what is necessary in order to create a deficit in the book or tax capital account of a member of an LLC
  • At-risk rules as applied to LLCs, including deficit restoration obligations
  • Review of an LLC operating agreement.
Course Number PLSA
CPE Credit Hour/Area 8 CPE credit hours recommended
Developer University of Denver Graduate Tax Program
Discussion Leader Mark A. Vogel, CPA
Level Intermediate
Member Fee $280.00
Non-Member Fee $330.00
Early Registration
Register by Wednesday, September 5, 2012 and save.
Member Fee $250.00
Non-Member Fee $300.00

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