Tuesday, July 22 | 4:00 p.m. - 4:50 p.m. | Concurrent Session
The Importance of Reconstructing and Documenting Basis
1 CPE for AFSP, EA, CFP®, CPA, CRTP
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Over the last several years, practitioners have felt significant pressure on properly calculating and reporting partner and shareholder basis. Various form changes, developments and IRS initiatives have put basis issues front and center.
When dealing with flow-through entity taxation, basis is easily one of the more complex technical topics, and often the most overlooked. During this session we will discuss basis calculations for the various flow-through entities and how the calculations impact tax returns. Templates will be provided to aid in basis calculations.
Objectives
Upon completion of this session, you will be able to:
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Identify the tax issues related to basis
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Determine how basis is calculated and properly document calculations
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Establish best practices for reconstructing and determining basis
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CPE information
Duration: 50 minutes
Course level: Intermediate
Prerequisite: Basic understanding of partnership and s corporation taxation
Advanced preparation: None
Delivery method: Group Live
