Partnership & S Corporations: How to Calculate Basis
Total Credits: 4 including 4 Taxes - Technical
- Average Rating:
- Not yet rated
- Categories:
- ACPEN Tax Institute | IRS Approved | Tax
- Faculty:
- Steven C. Dilley, CPA, JD, PhD
- Course Levels:
- Intermediate
- Duration:
- 4 Hours
- License:
- Product Setting: Expires 30 day(s) after program date.
Description
The IRS has recently increased the pressure on how to calculate and report partner and 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 and S corporation shareholder shares and loans. How to use the Form 1065, Schedule K-1 and Form 1120S, Schedule K-1 information for basis determination. Illustrated examples with filled in forms will demonstrate how the process works and 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 and submit to kori.herrera@acpen.com
Basic Course Information
Major Subjects- Calculation of basis when the entity is formed, including the impact of contributed property
- How to calculate partnership tax basis capital accounts;
- Clarifies the how partnerships and S corporations debt impacts tax basis
- Discusses how distributions affect basis
- Explains how basis is impacted by sale and/or liquidation of the partnership or S-corporation interest
- Discusses how S corporation losses impact Form 1040 Schedule E reporting
- Comprehensive examples to illustrate the mechanics of the basis determination process
Learning Objectives
- Identify the tax issues related to LLC members/partners basis from formation through operations and concluding with sale and/or liquidation
- Identify the tax issues related to S corporation owner's basis for shares and loans from formation through operations and concluding with sale and/or liquidation
- Understand potential pitfalls and planning strategies
Course Materials
| IMPORTANT_CPE Credit Instructions_Read Before Webcast_Updated_2_2025 (442.6 KB) | Available after Purchase | ||
| Partnership & S Corporations: How to Calculate Basis Handout (14.6 MB) | Available after Purchase | ||
| IRS Credit Instruction (267 KB) | Available after Purchase | ||
Faculty
Steven C. Dilley, CPA, JD, PhD Related Seminars and Products
Steven C. Dilley, CPA, JD, PhD is President of Federal Tax Workshops, Inc., East Lansing, Michigan, where for the past 36 years, his organization has prepared continuing professional education materials and presented seminars for accountants and attorneys throughout the United States. He is nationally known for his knowledge of the financial, accounting, and tax problems of the closely held business. He has published numerous articles on these topics. In addition, Steve is a Professor of Accounting at Michigan State University, East Lansing, where he teaches tax accounting and was nominated in 2004 for the "Educator of the Year Award." He obtained his PhD in accounting, law degree and an undergraduate accounting degree from the University of Wisconsin-Madison. He is a member of the Michigan Association of CPAs, Wisconsin Bar Association, The American Accounting Association, AICPA, American Tax Association, and Hawaii Association of Public Accountants.
Dates
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Fri, May 09, 2025 - 02:00pm to 05:46pm CDT
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Thu, May 29, 2025 - 04:00pm to 07:46pm CDT
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Tue, Jun 03, 2025 - 08:00am to 11:46am CDT
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Thu, Jun 12, 2025 - 10:00am to 01:46pm CDT
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Mon, Jun 23, 2025 - 12:00pm to 03:46pm CDT
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Wed, Jul 09, 2025 - 02:00pm to 05:46pm CDT
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Tue, Jul 29, 2025 - 06:00pm to 09:46pm CDT
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Sat, Aug 09, 2025 - 08:00am to 11:46am CDT
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Wed, Aug 27, 2025 - 10:00am to 01:46pm CDT
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Wed, Sep 10, 2025 - 12:00pm to 03:46pm CDT
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Tue, Sep 23, 2025 - 02:00pm to 05:46pm CDT
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Thu, Oct 09, 2025 - 04:00pm to 07:46pm CDT
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Tue, Oct 28, 2025 - 08:00am to 11:46am CDT
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Mon, Nov 03, 2025 - 10:00am to 01:46pm CST
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Tue, Nov 18, 2025 - 12:00pm to 03:46pm CST
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Tue, Dec 02, 2025 - 06:00pm to 09:46pm CST
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Fri, Dec 12, 2025 - 04:00pm to 07:46pm CST
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Tue, Dec 23, 2025 - 08:00am to 11:46am CST
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Fri, Jan 09, 2026 - 10:00am to 01:46pm CST
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Tue, Jan 20, 2026 - 12:00pm to 03:46pm CST
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Sat, Feb 07, 2026 - 02:00pm to 05:46pm CST
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Mon, Feb 23, 2026 - 04:00pm to 07:46pm CST
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Fri, Mar 06, 2026 - 08:00am to 11:46am CST
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Tue, Mar 24, 2026 - 10:00am to 01:46pm CDT
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Tue, Apr 07, 2026 - 12:00pm to 03:46pm CDT
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Wed, Apr 22, 2026 - 02:00pm to 05:46pm CDT
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Additional Info
Basic Course Information
Prerequisites Basic working knowledge of partnership and S corporation taxationAdvanced Preparation
None
Designed For CPAs working in public accounting firms and/or working for partnerships or S corporation
Original Recording Date 04/2025
Yellow Book No
Course Developer Federal Tax Workshop
Date Added to Catalog 03/11/2025
Additional Information
Complaint Resolution Policy Please contact Anne Taylor for any complaints. anne.taylor@acpen.com, (972-377-8199).Official Registry Statement Business Professionals' Network, Inc. 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
Instructional Delivery Method Live Group Internet Based
Course Registration Requirements Online Registration
Refund/Cancellation Policy Please contact the ACPEN help desk 1-877-602-9877 or help@acpen.com if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer.