Description

The IRS has recently increased the pressure on how to calculate and report partner and shareholder basis. Changes in the forms reflect these developments. This program provides a detailed analysis of the calculations related to determining tax basis for a partnership interest and S Corporation shareholder shares and loans. How to use the Form 1065, Schedule K-1 and Form 1120S, Schedule K-1 information for basis determination. Illustrated examples with filled in forms will demonstrate how the processes works and their many potential pitfalls.

This two-hour webinar will discuss basis calculations for S-Corps and Partnerships, as well as capital accounts and partnerships. Basis calculations are tricky for practitioners, because basis is actually an individual/Form 1040 concept — individuals are responsible for determining their basis. However, all of the items necessary for making this computation are generated at the S-corporation or partnership level.

This training focuses on the numbers necessary to make basis calculations, and what those calculations actually impact. In additions, partnerships now have a requirement to report capital accounts under the tax basis of accounting. Capital accounts ARE an entity requirement (unlike basis). This webinar will cover how to determine capital accounts, and what a capital account affects.

Session Highlights

Identify the tax issues related to S Corporation owner's basis for shares and loans from formation through operations and concluding with sale and/or liquidation
Identify the tax issues related to LLC members/partners basis from formation through operations and concluding with sale and/or liquidation
Understand potential pitfalls and planning strategies

Areas covered in the Session

Calculation of basis when the entity is formed, including the impact of contributed property
How to calculate partnership tax basis capital accounts
Explains the use of both "inside" and "outside" basis determination
Clarifies the how partnerships and S
Explain the differences of basis between S-Corporations and Partnerships to clients
Apply basis correctly on personal tax returns
Understand Partnership Capital Accounts and their affects

Who Should Attend:

CPA, EA, attorney, and staff
Tax department
CFOs and controllers
Accounts payable and Accounting Managers
Public accountants
Sole Proprietors

Date	Title	Duration	Price
August 25, 2025	OBBB Impact on Estate Taxes: 2025 Update for Forms 1041 & 706	90 Minutes	$169
September 15, 2025	The 2025 Education Finance Playbook: Post-OBBBA Strategies	90 Minutes	$169
September 17, 2025	IRC 199A under the OBBB Framework: Updates You Need to Know	90 Minutes	$169
October 7, 2025	New Approaches to SALT for Pass-Through Entities under OBBB	90 Minutes	$169

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