Basis Calculations for Partnerships and LLCs
Book-Ups, Step-Ups, At-Risk Amounts, Allocating Liabilities, and Recourse and Nonrecourse Debt
A live 110-minute CPE webinar with interactive Q&A
This webinar will provide tax preparers and professionals advising partnerships and LLCs with a solid foundation for the calculation and maintenance of partners' basis accounts. The panel will discuss book-ups, step-ups, at-risk rules, and the corresponding debt allocations of recourse and nonrecourse debt.
- Types of partnerships
- Annual increases and decreases to basis
- The interplay of basis and capital accounts
- Section 754 step-ups
- At-risk amounts and Form 6198
- Best practices for tracking partners' basis
The panel will review these and other crucial questions:
- What complexities should tax preparers be aware of when calculating basis for pass-through entities?
- What are the increases and decreases to consider for the basis calculation?
- When should a partnership's assets be stepped-up?
- What is the difference between inside and outside basis?
Ryan J. Dobens
Mr. Dobens practices in the Mergers & Acquisitions Group in the PwC Washington National Tax Services office,... | Read More
Mr. Dobens practices in the Mergers & Acquisitions Group in the PwC Washington National Tax Services office, specializing in partnership taxation. He has broad experience advising multinational businesses, the asset management industry, and the real estate industry on the flexibility of partnership taxation.Close
Darren J. Mills, Esq., CPA, ChFC, CLU
Mills Law Office
Mr. Mills has more than 20 years of experience advising both middle market companies and large multi-nationals... | Read More
Mr. Mills has more than 20 years of experience advising both middle market companies and large multi-nationals regarding complex federal and international tax issues. He also advises both strategic and financial buyers in tax due diligence and structuring as well as providing sell-side due diligence/structuring. He has taught classes on S Corporations at Seton Hall University and the University of Baltimore School of Law.Close
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