Resolving Complicated Partnership and S Corporation Activity Online Training – Nov. 11 - Nov. 18

Instructor-led sessions on Nov. 11 and Nov. 18 from 10:00 a.m. - 2:00 p.m. CT

Online registration is closed. To register, please call 800-558-3402, ext. 3

Check my membership level.

Summary

This training will expand your knowledge of partnership and S corporation taxation. For partnerships, we will cover complicated activity such as guaranteed payments, making the §754 election, changes in partner ownership and hot assets. For S corporations we will cover reasonable compensation for shareholders, built-in-gains (BIG) tax and changes in shareholder ownership. For both partnerships and S corporations we will cover the basics of calculating and tracking a partner’s or shareholder’s basis along with its tax impact on distributions and losses.

This training builds on our Basics of Business Entity Taxation course by diving into items unique to partnerships and S corporations. At the end of this training, you will complete a case study.

Objectives

Upon completion of this course, you will be able to:

• Maintain basis in a partnership and tax basis capital accounts
• Calculate stock and debt basis in an S corporation by completing Form 7203
• Determine whether pass-through losses are deductible or distributions are taxable
• Recognize guaranteed payments for partners and determine reasonable compensation for shareholders
• Calculate and report basis adjustments when a §754 election has been made by the partnership
• Summarize the rules for partnership allocations of income and loss
• Calculate and report the BIG tax for an S corporation
• Analyze the tax consequences of a change in partners or shareholders

Course Details

Completion of reading assignments prior to the instructor-led sessions is highly recommended. Instructor-led sessions will occur Nov. 11 and Nov. 18 from 10:00 a.m. - 2:00 p.m. CT. During the sessions, the instructors will discuss main concepts and apply real-life scenarios. Throughout the sessions learners will have the opportunity to ask questions. Learners will be provided with a recording of each session. Course ends with homework to complete a case study.

View study assignments

Instructor: Genaro Cardaropoli, CPA

The self-study portion of this online training includes the  Resolving Complicated Partnership and S Corporation Activity self-study course with access to 8 CPE for AFSP, EA, CPA, CRTP. To earn CPE, you must complete a final examination.

Cancellation Policy

​Because this is an online education offering, it is nonrefundable.​​