Basis Calculations for Pass-thru Entity Owners Schedule K-1(form 1065) | myCPE

CPE PACKAGES (Incl. Ethics) for Multiple States and Qualifications @ $4/credit. CLICK HERE to view.

AFSP
CPA (US)
CVA
EA
Tax Preparer
CPA/PFS
CTEC

Basis Calculations & Distributions For Pass-thru Entity Owners Schedule K-1 Analysis (Latest)

8 Credits

$120

Subject Area

Taxes

Webinar Qualifies For

8 CPE credit of Taxes for all CPAs

8 CE credit of Federal Tax for Enrolled Agents ( IRS Approved : GEHNZ ) (Approval No. GEHNZ-T-00063-19-O)

8 CE credit of Federal Tax Subjects for California Tax Professionals (CTEC Approved - 6273) (Approval No. 6273-CE-0275)

8 CE credit of Annual Filing Season program (AFSP)( IRS Approved : GEHNZ )

8 CPD credit (Verifiable) for Certified Valuation Analyst (CVA)

8 CPD credit (Verifiable) for CPA/PFS

8 CE credit of Federal Tax for Oregon Tax Preparers (Approval No. GEHNZ-T-00063-19-O)

8 CE credit of Federal Tax for Maryland Tax Preparers (Approval No. GEHNZ-T-00063-19-O)

8 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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This Course is Also Available in Self Study (On-Demand)

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Course Description

This online comprehensive case-driven online CPE/CE webinar is designed to get the accountant up to speed quickly in the area of basic calculations and distribution planning for the owners of pass-thru entities (i.e., S corporations, partnerships, and limited liability companies (LLCs)). The cornerstone of this online CPE/CE course is the line-by-line analysis of the Schedule K-1s and how it affects the basic calculations. This online CE webinar is taught using a Hands-On methodology. Real-world examples and cases are used to demonstrate the complex income tax code and regulations to enhance the participant's learning experience. Each attendee will receive the most comprehensive reference manual with numerous practice aids, real-world examples, and case studies.

This Online Tax CE Webinar includes the following topics but is not limited to:

Detailed coverage of any new legislation affecting basis computations and distributions and changes to the schedule K-1s
A line-by-line analysis of the Schedule K-1s to determine how the items affect an S shareholder’s stock and debt basis and a partner/member’s the outside basis and where the items get reported on Federal individual income tax return
The three loss and deduction limitations on the owner’s individual income tax return (i.e. basis, at-risk, and other Form 1040 limitations)
How cash or non-cash distributions affect the basic calculations and whether or not they are taxable to the owners
Compare the tax treatment of the sale of a shareholder’s stock in an S corporation and a partner’s interest in a partnership
What constitutes debt basis for an S corporation shareholder under the final regulations
The tax ramifications of repaying loans to S corporation shareholders and on open account debt
How recourse and non-recourse debt affect a partner or member’s basis calculations and amount at-risk

J. Patrick Garverick is one of the most admired and best-reviewed Tax Speaker in the country and we are offering the classes at a much-discounted price during the pandemic. His courses have been best-reviewed time and again

For Quality of Content
For Relevance and Practical Case studies
For Best Teaching Approach
For 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 webinar, you will get Free E-Book worth $200. The book will be shared with you during the webinar. The book is copyright protected.

Click here for webinars on Tax Updates

Learning Objectives

To identify the 3 main reasons for calculating a shareholder’s basis in a S corporation and partner/member’s basis in a partnership/LLC
To calculate the stock and debt basis for S corporation shareholders
To calculate the basis for partners and members of a LLC
To calculate losses allowed from at-risk activities
To review the Form 1120S and Form 1065 Schedule K-1s to determine how the line items affect basis calculations and get reported on the individual owner’s Form 1040

Recommended For

This CE course is recommended for CPA, EA, AFSP, and Other Tax professionals that need an in-depth training course on basic calculations and distributions rules for S-Corporations, partnerships, LLCs, and their owners.

Who Should Attend?

Accountant
Accounting Firm
Bookkeepers & Accountants & Tax Preparers
California Registered Tax Professional
Certified Valuation Analysts
CPA - Mid Size Firm
CPA - Small Firm
CPA in Business
Enrolled Agent
Financial Planner
Maryland Tax Preparers
Oregon Tax Preparers
Personal Financial Specialist (PFS)
Tax Accountant (Industry)
Tax Director (Industry)
Tax Firm
Tax Managers
Tax Practitioners
Tax Preparer
Tax Professionals
Tax Pros
Young CPA

Testimonial

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(
    [average] => 4.6140
    [no_of_record] => 114
)

4.6

(114)

69%

25%

4%

1%

1%

RT

Robert Thomas, EA

Dec 8th 2020

J. Patrick did a great job in presenting the information regarding S Corps owned by Trusts and the intricacies of tax laws and how it applies to them. A lot of information that I wasn't familiar with and it broadened my understanding and allows me to apply what i learned to situations that apply.

ER

Evan Rodwell, ACCT/BK, CPA (US)

Dec 10th, 2020

Tons of valuable information, lots of hand-outs to refer to and a recording of the session to enjoy it over and over again. There was so much knowledge in this session that I need to go back and do it again to maximize the full benefit .Thanks.

JAM

Jo Ann Moore, ACCT/BK, EA

Dec 1st, 2020

The instructor was educated in this field of study, he answered all questions. enjoyed taking this course and will definitely take more classes, He is engaged with the audience, and answers questions, both during the webinar and off-line.

MG

Michael Gervais, EA

Dec 1st, 2020

Although I currently have no S corp clients, the information presented makes me curious enough to consider taking some on! In addition to the rich technical content of the webinar, I appreciated our instructor's sense of humor. Much needed these days!

JP

Joseph Pottackal, CPA (US)

Jun 27th, 2021

Great topic.

JL

Julie Long, EA

Apr 6th, 2021

It was a fabulous webinar

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