Top Ten Questions from Partnership Clients Regarding the Section 754 Election
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Virtual
4.00 Credits
Member Price $219.00
Non-Member Price $309.00
Overview
You could pay $0 for this course!
This qualifies for reimbursement through the State Workforce Training Express Fund. Firms/companies with fewer than 100 staff will receive 100% reimbusement, and firms/companies with over 100 staff will receive 50% reimbursement. You must register for this course and apply for reimbursement through the Workforce Training Express Fund website three weeks in advance to be eligible. The course code for this program is 1144563. To learn more click here or contact Julia Ekelund at jekelund@mscpaonline.org.
Highlights
How does a partner compute his or her basis in a partnership? What is the difference between a partner’s inside and outside basis? What is the difference between a partner’s capital account and partner’s outside basis? How does Section 732(d) impact the buyer of a partnership interest? How does a partnership report a Section 754 election on the partnership’s tax return? How does a partnership make a Section 754 election? How does a partnership make a Section 743(b) adjustment? How does a partnership make a Section 734(b) adjustment? How is a Section 743(b) adjustment or Section 734(b) adjustment allocated to the assets of a partnership? How is a Section 743(b) adjustment allocated within the class of ordinary income property and capital gain property?
Prerequisites
A basic understanding of the tax rules impacting individuals and pass-through entities
Designed For
Accounting and financial professionals seeking to fortify their Section 754 knowledge base
Objectives
Be familiar with the practical issues surrounding Section 754 and its application Effectively advise clients on these complex issues
Preparation
None
Non-Member Price $309.00
Member Price $219.00