Surgent's Calculating a Partner's or LLC Member's Basis (CPMB)

Course Details

Date

Tuesday, September 3, 2019

7:00am – 9:00am

Field of Study

Taxation

Course Number

SU0143

CPE Credit

2.0 hours CPE credit

Level of Knowledge

Basic

Vendor

Surgent McCoy CPE, LLC

Prerequisites

Basic understanding of tax rules relating to partnerships and partners

Description

You should attend this program because it will discuss in a practical way how a partner or member's basis in a partnership (or LLC treated as a partnership) is calculated. This topic is particularly important for any tax practitioner who deals at even a basic level with partnership distributions of cash and property and/or the sale of a partnership interest. The concept of basis is fundamental to an understanding of almost all aspects of partnership taxation.

Note: The Section 754 election and concomitant basis adjustments are not covered in this program. However, those topics are discussed in detail in S754, Section 754 Step-Up in Basis: Understanding the Tax Issues for Partnerships and LLCs. For information on this and other webinars, please contact Surgent.

Highlights

  • How to determine partner basis in a partnership or multiple member limited liability company treated as a partnership
  • Specific positive and negative partner/member basis adjustments
  • The ordering rules for making multiple basis adjustments
  • The treatment of recourse and nonrecourse liabilities as components of basis

Objectives

  • Understand how a partner/member determines his or her basis
  • Identify and understand the specific negative and positive adjustments to a partner's basis and the ordering rules applicable to such adjustments

Designed For

Any tax practitioner with partnerships, multiple member LLCs or partners/members as clients

Course Pricing

Member Fee

Applicable if you are a HSCPA member in good standing.

$89.00
Non-Member Fee

Applicable if you are not a HSCPA member.

$119.00
Your Price $119.00

CPE Choice

Learn more about CPE Choice.
This course does not qualify for CPE Choice.

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