NEW! 4-Hour Program
WHY ATTEND THIS COURSE?
Partnerships are incredibly flexible tax devices, allowing many options in determining what appears on each partner’s K-1. IRC §§704(b) and (c) determine, in combination with the partnership agreement, the numbers that appear on each partner’s Schedule K-1.
In this course we’ll take a look at the responsibilities a CPA has in calculating the proper allocations to each partner. We’ll look at the mandatory adjustments for precontribution built-in gains or losses of each partner and the requirements to have partnership special allocations respected.
CPAs responsible for advising partnerships on tax matters or preparing Schedule K-1s.
Participants will be able to:
COURSE ACRONYM: GKPA4
PRESENTATION METHOD: Group-live
LEVEL OF KNOWLEDGE: Intermediate
ADVANCE PREPARATION: None
FIELD OF STUDY: Taxes
RECOMMENDED CPE CREDIT: 4 hours
SmartPros®, A Kaplan Company and Loscalzo Institute, A Kaplan Company are 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.