Reviewing Partnership Tax Returns: What Are You Missing?
Available for 1 year after purchase date
**OnDemand**
5.0 Credits
Member Price $145.00
Non-Member Price $179.00
Overview
Strategies to help reviewers catch errors in partnership and LLC tax returns before they are submitted.
Highlights
Key Topics
Common errors made involving the following:
- Form 1065
- Schedules K and K-1
- Schedules M-1 and M-2
- Calculating recourse and nonrecourse liabilities
- Partner inside and outside basis
- Partner's capital account analysis
- Sections 704(b), 704(c), 721, 722, 732(b), 734(b), 737, 743(b)
Prerequisites
Experience with partnership tax return preparation
Designed For
Who Will Benefit
- Partners and managers in CPA firms
- Experienced CPA staff
Objectives
Learning Outcomes
- Identify the mechanics of a partnership's tax return, including partner capital account calculations and permissible tax years.
- Determine the proper allocation of recourse liabilities among partners.
- Analyze the consequences of a new partner joining a partnership.
- Determine depreciation expense among the contributing and noncontributing partners under Section 704(c).
- Determine the value of assets with nonrecourse liabilities.
Non-Member Price $179.00
Member Price $145.00