Basis Issues for Investing in Partnerships and Subchapter S-Corporations
- Course Description
This course is the follow up to NSTP’s two other courses on basis titled “Overview of Basis for Federal Income Tax” and “Basis Issues for Investing in Real Estate”.
This course takes the precepts of the initial courses and brings them full circle into the investment by a partner of a partnership and investment by a shareholder in a Subchapter S-Corporation.
The course discusses the distinct differences in basis of a partner vs. basis of an S-Corp shareholder
The course discusses annual adjustments to basis for partners and shareholders and the impact of distributions and losses.
The course stresses the importance of ordering rules in calculating basis of stock and debt.
- Learning Objectives
At the conclusion of this course, the participants will have attained solid knowledge on calculating basis needed to properly prepare the entity returns as well as the limitations on the returns of the individual owners of these two distinct tax entities. The participants be better equipped to discuss and plan for basis utilization with their clients.
IRS: Federal Tax Law Topics 1 CPE
CTEC: Tax Law 1 CPE
NASBA: Taxes 1 CPE
To receive the member price, first log into your member account. Your member discount will then be automatically applied. We can also take your registration by phone.
Your registration confirmation will be emailed to you when your payment is processed. During our busy season, this can take up to 2-3 business days after we receive your registration.
Yes. If you have a PTIN on file with us, we will submit your hours. To insure we have your correct info, please provide your PTIN when you register for a course. Please notify us if you have recently submitted a name change request to the IRS.
Your certificate will be emailed to you within 10 business days of the completion of the course.
- Once your registration confirmation is emailed, due to the proprietary materials and content of orders are NOT ELIGIBLE for refund, cancellation, or transfer to another NSTP course.
- materials and presentations are intended to stimulate thought and discussion and to provide attendees useful ideas and guidance in the areas of federal taxation and administration. These materials as well as the comments of the instructors do not constitute and should not be treated as tax advice regarding the use of any tax procedure, tax planning technique, device or suggestion, or any of the tax consequences associated with them.
- Although the NSTP has made every effort to ensure the accuracy of the materials and the seminar presentation, neither the author, the presenter nor the National Society of Tax Professionals assumes any responsibility for any individual’s reliance on the written or oral information presented during the presentation. Each attendee should verify independently all statements made in the materials, and during the seminar presentation, before applying them to a particular fact pattern and should determine independently the tax and other consequences of using any device, technique, or suggestion before recommending the same to a client or implementing the same on behalf of a client, or on the attendee’s own behalf.
- materials & presentations are fully protected under copyright law. Any attempt to copy for resale, distribution, or use other than personal use for tax preparation will be fully prosecuted of the law.
- require a test for CPE. 3 attempts are allowed.
- You have 1 (one) year from date of purchase to complete the course by taking the test.