Partnership & S Corporations: How to Calculate Basis

Overview

The IRS has recently increased the pressure on how to calculate & report partner & 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 & S corporation shareholder shares & loans. How to use the Form 1065, Schedule K-1 & Form 1120S, Schedule K-1 information for basis determination. Illustrated examples with filled in forms will demonstrate how the process works & their many potential pitfalls.

Please Note: If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab & submit to kori.herrera@acpen.com