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Partnership & LLC - (Form 1065) - Formation to Liquidation

  • Accountant
  • AFSP
  • CRTP
  • CPA (US)
  • EA
  • ORTP
  • Maryland Tax Preparer
Partnership & LLC - (Form 1065) - Formation to Liquidation
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Course Description

Course Description

This comprehensive online continuing education training is designed to get the accountant up to speed quickly with partnership and limited liability Company (LLC) formation and liquidation issues as well as a complete understanding of calculating a partner and LLC member's basis. 

The cornerstone of this Online CPE/CE Course is the in-depth line-by-line analysis of Form 1065, subchapter K and how it affects the partner/member’s individual income tax return. Each attendee will receive the most comprehensive reference manual with numerous practice aids and real-world examples and case studies.

This online CPE/CE Tax webinar covers the following key topics:

  • An extensive review of the partnership tax laws with an emphasis on any new legislative changes (SECURE & CARES Act).
  • Review Subchapter K, its provisions, and regulations.
  • Analyze the form 8832 line-by-line and discuss the general rules of the effective date of the election.
  • Look at what relevant information related to the 50% of ownership's interest in the entity of elective date of election owned by persons who did not own any interest in the entity on the effective date of the entity's prior election.
  • Formation issues including the mandatory allocation of the §704(c) pre-contribution gain or losses back to the contributing partner/member.
  • The purpose of tax and §704(b) book capital account.
  • Effective of a Partnership Agreement §704(a).
  • Tax ramifications and reporting of cash and non-cash distributions including disproportionate distributions of “hot assets”.
  • Overview of the §754 elections for optional basis adjustments triggering §743 (transfer of interests) and §734 (distributions).
  • Calculating a Partner’s Outside Tax Basis and Overview of At-Risk Rules

J. Patrick Garverick is one of the most admired and best-reviewed Tax Speakers in the country and we are offering the classes at a much-discounted price. His courses have been best-reviewed by audiences for:

  • Quality of Content
  • Relevance and Practical Case studies
  • Best Teaching Approach
  • Best Course Material

Awards and Accolades

  • Award for Instructor Excellence for California Education Foundation
  • Award for Outstanding Course materials for California Education Foundation.
  • Rated top tax instructor in nearly every location he has presented 
  • One of the few instructors to have received perfect scores (multiple times) from attendees for both presentation skills and knowledge. 

During this CE webinar, you will get Free E-Book worth $200. The book will be shared with you during the webinar. The book is copyright protected. 

Free E-Book Worth $200
Get copyright protected E-Book related to course worth $200 for absolutely free, if you register now. Limited Period offer!

Learning Objectives

  • To inspect how to form a partnership and calculate the partnership’s initial inside tax basis in the assets and the partner's outside tax basis in the entity.
  • To analyze how to elect out of Subchapter K.
  • To discuss the implications of failure to attach Form 8832 to its Tax return.
  • To identify different methods of allocating pre-contribution gain or loss.
  • To analyze the partner's capital account, schedule-K, Item L.
  • To determine the penalty for late filing of partnership return- §6698.
  • To identify the allocation of income, deductions, and credits to a partner (§ 702 and § 1.702-1).
  • To calculate a partner/member’s outside basis and determine if losses and deductions are limited on their individual income tax return.

Recommended For

  • This IRS-approved CE course is for any Professional or Staff interested in learning more about Partnership Formation to Liquidation.
  • This online CE webinar is recommended for CPA, EA, AFSP, CRTP, MRTP, O