MYCPE ONE

Distributions, Loss Limitations & Partner Reporting in CCH 2.5 Credits

Distributions, Loss Limitations & Partner Reporting in CCH 2.5 Credits

Form 1065 Partnership Tax Series: Part 5

Learning mode

On Demand
  • Access the course at your convenience
  • Take the assessment test
  • Get your certificate
  • Attend the live interactive session
  • Answer the polling questions
  • Get your certificate

Access to this course is included with a MYCPE ONE subscription.

See how subscription works

Learning Objectives

  • Apply the tax rules governing cash, deemed cash, and property distributions and determine their effect on a partner’s outside basis.
  • Analyze partnership losses through the sequential limitations under Sections 704(d), 465, 469, and 461(l).
  • Identify separately stated items and trace their reporting from Schedule K to the appropriate Schedule K-1 boxes and partner-level forms.
  • Explain the treatment of guaranteed payments, contributed property, Section 704(c) built-in gain or loss, and partner liabilities.
  • Apply partner-liability classifications and year-to-year liability changes when computing outside basis and at-risk amounts.
  • Identify the proper use and reporting flow of Form 4562, Schedule D, Form 4797, and Form 8825 in a partnership return.

Course Overview

Partnership tax reporting becomes significantly more complex once cash distributions, property transfers, loss limitations, and partner-level reporting begin interacting with outside basis. This course examines how these rules flow through Form 1065 and Schedule K-1, helping practitioners understand where partnership-level reporting ends and where the partner's individual tax limitations begin.

Participants will work through the treatment of cash and property distributions, deemed distributions from liability changes, the four sequential loss-limitation gates under Sections 704(d), 465, 469, and 461(l), and the reporting of separately stated items, guaranteed payments, contributed property, and partner liabilities. The course also connects these rules to key supporting forms, including Form 4562, Schedule D, Form 4797, and Form 8825, with emphasis on correct routing, basis effects, and common preparation errors that can create inconsistencies across Form 1065, Schedule K, Schedule K-1, and Schedule M-2.

Major Topic:

  • Cash and property distributions under Sections 731, 732, 733, and 752(b)
  • Four-stage partnership loss limitations: basis, at-risk, passive activity, and excess business loss
  • Separately stated items and partner-level Schedule K-1 reporting
  • Guaranteed payments, property contributions, and Section 704(c) allocations
  • Partner liabilities and outside-basis adjustments in Schedule K-1 Box K
  • Form 4562, Schedule D, Form 4797, and Form 8825 reporting flows

This CE course is the fifth part of the Form 1065 Partnership Tax Series. Building on the earlier modules, this session strengthens practical preparation and review skills by showing how distributions, suspended losses, separately stated items, guaranteed payments, contributed property, liabilities, and supporting forms interact across the partnership return and each partner's reporting. Participants will leave better equipped to trace these items through the correct forms, maintain consistent basis and capital reporting, and identify common errors before they affect partner-level tax treatment.

For more CCH software courses, click here.

On Demand Credits for All Qualifications

License details Credits Status
Taxes for Certified Public Accountants (CPA-US) 2.5 CPE Approved
Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-03385-26-S) 2 CE Approved
Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-03385-26-S) 2 CE Approved
Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-02840) 2 CE Approved
Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-03385-26-S) 2 CE Approved
Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-03385-26-S) 2 CE Approved
Taxes for Delaware Licensed Public Accountant (DE-LPA) 2.5 CPE Approved
Federal tax-related matters for LTC (Approval No. GEHNZ-T-03385-26-S) 2 CE Approved
Taxes for Iowa Licensed Public Accountant (IA-LPA) 2.5 CPE Approved
Taxes for Maine Licensed Public Accountant (ME-LPA) 2.5 CPE Approved

Additional Information

Credits

2.5

Course Level

Intermediate

Instructional Method

QAS Self Study

Group Internet Based

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC 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.

IRS APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.

CTEC APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC, in accordance with the standards set forth in Circular 230 section 10.6, grants Continuing Education (CE) credits based on a 50-minute hour. MY-CPE LLC is approved by the California Tax Education Council (CTEC) (Provider Number – 6273) to offer continuing education courses that count towards the annual continuing education requirement for CTEC Registered Tax Preparers. Additional information regarding registration as a tax preparer can be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free at (877) 850-2832, or by visiting www.ctec.org.

Need to meet your Enrolled Agent (EA) Continuing Education (CE) requirements? MYCPE ONE has you covered. Our Online EA CE courses make it easy to earn credits while expanding your expertise in tax regulations and practices. Stay ahead with the latest updates and in-depth insights designed to keep you at the top of your field. With flexible scheduling and a user-friendly platform, MYCPE ONE offers a convenient, interactive learning experience. Start advancing your career today!

 

About Instructor

Kateryna Khalandach

Kateryna Khalandach CPA

Founder, Not So Boring CPA

  • 4.6
  • rating
  • rating
  • rating
  • rating
  • rating

Kateryna Khalandach, CPA, is a California-licensed tax expert and founder of Not So Boring CPA. With 10+ years of experience, she makes complex tax concepts practical through engaging education, training, and real-world work.

With experience at Ernst & Young and a focus on high-net-worth clients, Kateryna blends tax expertise with process efficiency. Her courses and mentorship help CPAs, EAs, preparers, and bookkeepers build confident careers.

On Demand FAQs

What is Self Study (QAS)?

Self Study QAS (Quality Assurance Service) is a NASBA and other regulatory bodies approved program designed for Professionals to complete their Continuing Professional Education credits through self-paced, interactive courses that meet the highest standards of quality and compliance. Our courses qualify for credits with NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other professional organizations.

How do I earn CPE credits through self-study?

To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.

Are the self-study courses accepted by NASBA and other professional organizations?

MY-CPE LLC courses are accepted for continuing education credit by various professional certification programs, including NASBA, IRS, CFP Board, and HRCI. MY-CPE LLC is also recognized by SHRM to offer Professional Development Credits (PDCs) for SHRM-CP® and SHRM-SCP® recertification activities.

What are the requirements to maintain compliance with self-study courses?

To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.

How can I access my course completion certificates?

After successfully completing a self-study course and passing the assessments, you can access and download your course completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other professional organizations for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Reviews and Ratings

out of 5

Excellent (100%)

Very Good

Average

Poor

Terrible

Recommended Courses

Maximizing Your Tax Advantage: The Fringe Benefits Route in 2024-25

Feb 20, 03:00 PM EDT

  • CPA (US)
  • EA
  • AFSP
  • SHRM - CP
  • CRTP
  • PHR
  • SPHR
  • SHRM - SCP
  • HRCI - aPHR
  • ORTP
  • Maryland Tax Preparer
  • DE LPA
  • PHRca
  • SPHRi
  • HRCI - aPHRi
  • PHRi
  • LTC
  • GPHR
  • IA LPA
  • ME LPA

Annual Federal Tax Update - Individuals (Form 1040)

Aug 21, 11:00 AM EDT

  • CPA (US)
  • EA
  • AFSP
  • CFP (US)
  • CRTP
  • CPA/PFS
  • ORTP
  • ChFC
  • Maryland Tax Preparer
  • DE LPA
  • LTC
  • RICP
  • CLU
  • FSCP
  • WMCP
  • IA LPA
  • CASL
  • ME LPA
  • ChSNC

Annual Federal Tax Update - C & S Corporations, Partnerships & LLCs (Forms 1120, 1120S & 1065)

Aug 24, 09:00 AM EDT

  • CPA (US)
  • EA
  • AFSP
  • CRTP
  • ORTP
  • Maryland Tax Preparer
  • DE LPA
  • LTC
  • IA LPA
  • ME LPA

Cross-Border Cash Flow and U.S. Tax Reporting Essentials

Aug 24, 09:30 AM EDT

  • CPA (US)
  • EA
  • AFSP
  • CRTP
  • ORTP
  • Maryland Tax Preparer
  • DE LPA
  • LTC
  • IA LPA
  • ME LPA

Child and Dependent Care Credit with Form 2441 Guidance

Aug 24, 10:00 AM EDT

  • CPA (US)
  • EA
  • AFSP
  • CFP (US)
  • CRTP
  • CPA/PFS
  • ORTP
  • ChFC
  • Maryland Tax Preparer
  • DE LPA
  • LTC
  • RICP
  • CLU
  • FSCP
  • WMCP
  • IA LPA
  • CASL
  • CAP
  • ME LPA
  • ChSNC

OBBB Payroll and HR Compliance for Employers

Aug 24, 10:00 AM EDT

  • CPA (US)
  • EA
  • AFSP
  • SHRM - CP
  • CRTP
  • PHR
  • SPHR
  • SHRM - SCP
  • HRCI - aPHR
  • ORTP
  • Maryland Tax Preparer
  • DE LPA
  • PHRca
  • SPHRi
  • HRCI - aPHRi
  • PHRi
  • LTC
  • GPHR
  • IA LPA
  • ME LPA
Distributions, Loss Limitations & Partner Reporting in CCH

Inclusions

  • Multiple Credits

    Multiple Credits

    Earn continuing education credits with flexibility. Choose from live webinars, on-demand courses, e-books, or podcasts to fit your learning style and schedule.

  • Certifications & Reporting

    Certifications & Reporting

    We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days - fastest in the industry.

  • Credit Tracker

    Credit Tracker

    Track and manage your compliance across all 50 states and over 100 designations. Our Credit Tracker keeps your CPE credits and compliance requirements always up-to-date.

  • Certificate Vault

    Certificate Vault

    Certificate Vault to upload, manage, and access certificates earned from various sources and an integrated credit tracker, allowing users to monitor and manage their credits conveniently for compliance.

  • Compliance Reminders

    Compliance Reminders

    Stay current with our automated reminder system. Receive timely alerts for your CPE requirements, ensuring you never miss a deadline.

  • Mobile App Access

    Mobile App Access

    The MYCPE ONE Mobile App allows you to learn on the go, providing access to educational content on Android and Apple iOS devices. You can learn anytime and anywhere, making it convenient for busy schedules.

  • Live Support

    Live Support

    Our support team is available via live chat, email, and phone from 9 AM to 5 PM ET. We're here to help with any questions or issues, ensuring you have a seamless experience.

Exclusive mobile
app for our unlimited
access subscribers

Get Started with Unlimited Learning

Select your plan, complete your payment, and access a world of knowledge.

Get Started Today

Start your journey towards learning and compliance.

card

$299$199 For 12 Months

Your information is securely encrypted using SSL

Get Started Today

Click Here

More Reasons to Subscribe

  • true true

    80% of Content Rated 4.5+ Stars

    High-quality content rated by professionals.
  • true true

    4X More Content at 1/3rd the Price

    Serious value compared to your regular provider!
  • true true

    Non-Sponsored Content

    Purely educational, unbiased content for your learning.
  • true true

    Monthly & Quarterly Updates

    Keeping you ahead of trends and changes.
  • true true

    Podcasts with Industry Leaders

    Learn and Earn CPE from experts on the go.
More Reasons

Please Wait

While we securely retrieve your payment information.
This may take a few seconds.