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Live Webcast Replay

Partnership & S Corporations: How to Calculate Basis

Total Credits: 4 including 4 Taxes - Technical

Average Rating:
   8
Categories:
ACPEN Tax Institute |  IRS Approved |  Tax
Speaker:
Steven C. Dilley, CPA, JD, PhD
Course Levels:
Intermediate
Duration:
4 Hours
License:
Never Expires.
Dates
Please Note: Programs with a ☾ insignia begin after 5pm or air on the weekend.
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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

Handouts

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

Speaker

Steven C. Dilley, CPA, JD, PhD's Profile

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

Thu, Jun 12, 2025 - 11:00 AM to 2:46 PM EDT
Mon, Jun 23, 2025 - 1:00 PM to 4:46 PM EDT
Wed, Jul 09, 2025 - 3:00 PM to 6:46 PM EDT
Tue, Jul 29, 2025 - 7:00 PM to 10:46 PM EDT
Sat, Aug 09, 2025 - 9:00 AM to 12:46 PM EDT
Wed, Aug 27, 2025 - 11:00 AM to 2:46 PM EDT
Wed, Sep 10, 2025 - 1:00 PM to 4:46 PM EDT
Tue, Sep 23, 2025 - 3:00 PM to 6:46 PM EDT
Thu, Oct 09, 2025 - 5:00 PM to 8:46 PM EDT
Tue, Oct 28, 2025 - 9:00 AM to 12:46 PM EDT
Mon, Nov 03, 2025 - 11:00 AM to 2:46 PM EST
Tue, Nov 18, 2025 - 1:00 PM to 4:46 PM EST
Tue, Dec 02, 2025 - 7:00 PM to 10:46 PM EST
Fri, Dec 12, 2025 - 5:00 PM to 8:46 PM EST
Tue, Dec 23, 2025 - 9:00 AM to 12:46 PM EST
Fri, Jan 09, 2026 - 11:00 AM to 2:46 PM EST
Tue, Jan 20, 2026 - 1:00 PM to 4:46 PM EST
Sat, Feb 07, 2026 - 3:00 PM to 6:46 PM EST
Mon, Feb 23, 2026 - 5:00 PM to 8:46 PM EST
Fri, Mar 06, 2026 - 9:00 AM to 12:46 PM EST
Tue, Mar 24, 2026 - 11:00 AM to 2:46 PM EDT
Tue, Apr 07, 2026 - 1:00 PM to 4:46 PM EDT
Wed, Apr 22, 2026 - 3:00 PM to 6:46 PM EDT

Additional Info

Basic Course Information

Prerequisites Basic working knowledge of partnership and S corporation taxation
Advanced 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.

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Overall:      4.8

Total Reviews: 8

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