2023 Partnership Update and Review Course
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- 10:00 am - 11:00 am Pacific Time Zone
- 11:00 am - 12:00 pm Mountain Time Zone
- 12:00 pm - 1:00 pm Central Time Zone
- 1:00 pm - 2:00 pm Eastern Time Zone
IRS CPE : Tax Law Topics
CTEC CPE : Tax Law Topics 2
NASBA CPE : Taxes 2
This course provides detailed guidance to Tax Professionals about the Federal Tax Issues of operating a small business as a partnership. The course reviews the challenges and flexibility of Subchapter K of the Internal Revenue Code. The session discusses the creation of a partnership and the operation for federal income tax purposes. The course will discuss the reporting requirements that impact the individual partners and their Form 1040. The session reviews the partner's basis in the partnership interest, distributive share of partnership profits and losses and the impact of entity debt on the individual partners. Specific changes impacting the filing of the 2023, Form 1065 will be highlighted.
At the completion of the session, participants will better understand the challenges, benefits and the burdens of partnership taxation. The participants will also be better equipped to assist clients in their planning and their reporting responsibilities and understanding their outside basis and the applicable limitation on allowable losses passed through on their individual Schedule K-1.
