Basis Calculations for Partnerships and LLCs
Book-Ups, Step-Ups, At-Risk Amounts, Allocating Liabilities, and Recourse and Nonrecourse Debt
Recording of a 110-minute CPE webinar with 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
- Basis issues in bankruptcy
- 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 is a Senior Manager part of the Mergers & Acquisitions Group of PwC's Washington National Tax... | Read More
Mr. Dobens is a Senior Manager part of the Mergers & Acquisitions Group of PwC's Washington National Tax Services office. Mainly, he specializes in the area of partnership taxation. He has broad experience advising multinational businesses, the asset management industry, and the real estate industry on the flexibility of partnership taxation. Through his work with venture capital and private equity funds, Mr. Dobens has also developed an extensive knowledge as to the qualification of small business stock under Section 1202 of the Code and regularly advises clients nationally on the topic (both from the buy and sell side of transactions).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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CPE credit is not available on downloads.