Correcting Capital Account Mistakes and Errors on Partnership Returns
A Comprehensive Guide to Corrections, Allocations and "True-Ups" of Capital Accounts
Note: CLE credit is not offered on this program
A live 110-minute CPE webinar with interactive Q&A
This webinar will provide tax professionals and advisers with an in-depth and practical guide to the accounting and tax disclosure requirements to correct and adjust capital account balances. The panel will focus on the mechanics of both book entries and tax reporting and will offer concrete examples of corrective entries and form reporting as illustrations. The webinar will also cover the interpretation of partnership agreements and provide guidance on how to apply partnership provisions to corrective entries and tax disclosures.
- Partnership agreement interpretation
- Identifying capital account misstatements
- Book entries
- Tax reporting and disclosures
- Interaction with new partnership audit rules
- Case study with illustrations
The panel will discuss these and other critical issues:
- Identifying errors, miscalculations or misstatements in capital accounts
- Correcting mistakes in mandatory adjustments
- Basis and capital account corrections where a valid Section 754 election was in place
- Book vs. tax-corrective adjustments
- Prior year adjustments
- Impact of new partnership audit rules
Joseph C. Mandarino
Smith Gambrell & Russell
Mr. Mandarino's practice focuses on corporate, tax and finance law. He is involved with a wide variety of... | Read More
Mr. Mandarino's practice focuses on corporate, tax and finance law. He is involved with a wide variety of businesses and transactions, including experience with compliance, planning and M&A activities for partnerships, individuals and corporations. Mr. Mandarino writes and speaks extensively on a wide range of business, tax and finance topics.Close
to be announced.
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CPE credit processing is available for an additional fee of $35. CPE processing must be ordered prior to the event.
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Includes special savings of $150 (through 04/26/19)
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Live Webinar & DVD
$144 + $19.45 S&H