Partnership Basis – A Calculation You Can Handle
Have you ever asked yourself what is the difference between a partner’s inside and outside basis? To properly advise your partnership clients, you need to know the difference between the two and how to calculate the amounts. In this webinar, you will learn how to calculate a partner’s inside and outside basis and why the capital account doesn’t necessarily equal the partner’s basis.
Upon completion of this course, you will be able to:
- Define basis for tax clients.
- Define inside basis for tax clients.
- Correctly calculate inside basis.
- Define outside basis for tax clients.
- Correctly calculate outside basis.
- Describe the differences between inside and outside basis to tax clients at the tax desk.
- Analyze how basis affects partners.
This webinar includes the presentation slides, exam questions, live webinar recording with review questions, and Q&A transcript. CPE is issued after exam is successfully completed.
Laura Strombom, EA, MBA, NTPI Fellow