MYCPE ONE

Partnership Tax Practice with CCH: Income, Schedule L & Diagnostics 2.5 Credits

Partnership Tax Practice with CCH: Income, Schedule L & Diagnostics 2.5 Credits

Form 1065 Partnership Tax Series: Part 7

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On Demand
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  • Take the assessment test
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  • Attend the live interactive session
  • Answer the polling questions
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Learning Objectives

  • Apply a structured intake process to verify prior-year balances, ownership information, depreciation, and loss carryovers before entering Form 1065 data.
  • Distinguish ordinary trade or business items reported on Form 1065, Page 1 from separately stated items reported on Schedule K.
  • Prepare and reconcile Schedule L by confirming prior-year rollforwards, balance-sheet equality, and ending capital tie-outs.
  • Apply Schedule M-1 to reconcile book income with income reported on the tax return and identify common book-tax differences.
  • Trace key Schedule K-1 items to the appropriate forms and schedules on a partner's Form 1040.
  • Apply CCH Axcess Tax diagnostic review and e-file readiness procedures to identify issues, determine filing actions, and monitor filing status.

Course Overview

Preparing a partnership return in CCH Axcess Tax requires more than entering figures into software. A reliable workflow begins with accurate intake and prior-year carryovers, continues through Form 1065 income and balance-sheet reporting, and ends with a disciplined review of diagnostics and e-file readiness. This practice-focused CE course connects those steps so tax professionals can move through a partnership engagement with greater consistency and control.

Participants work through the practical flow of a Form 1065 engagement, including reviewing client data and carryovers, entering ordinary trade or business items and separately stated items, completing Schedule L and Schedule M-1, tracing Schedule K-1 information to the partner's Form 1040, and resolving diagnostics before electronic filing. The CE course also emphasizes tie-outs between prior-year balances, partner capital, Schedule M-2, Schedule L, and Schedule K, along with common data-entry and transcription errors that can disrupt review or filing.

Major Topic:

  • Partnership return intake, prior-year data, and carryover review
  • Form 1065 Page 1 income and deductions with separately stated items
  • Schedule K reporting and partner allocations
  • Schedule L balance-sheet preparation and tie-outs
  • Schedule M-1 book-to-tax reconciliation
  • Schedule K-1 to Form 1040 reporting workflow
  • CCH Axcess Tax diagnostics, preparer review, and e-filing

This CE course is the seventh part of the Form 1065 Partnership Tax Series. Through practice-based CCH Axcess Tax workflows, participants reinforce the full preparation and review cycle from intake and carryovers through income entry, balance-sheet reconciliation, partner reporting, diagnostics, and electronic filing. The module is designed to help preparers recognize common return inconsistencies, apply structured quality-control checks, and determine when a partnership return is ready for transmission.

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-03387-26-S) 2 CE Approved
Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-03387-26-S) 2 CE Approved
Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-02842) 2 CE Approved
Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-03387-26-S) 2 CE Approved
Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-03387-26-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-03387-26-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

Pre-requisites

None

Advance Preparation

None

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
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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.

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Partnership Tax Practice with CCH: Income, Schedule L & Diagnostics

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