Pass-Through Entities and Stock Basis Calculations: Challenges for Enrolled Agents
Tackling Complex Issues for S Corporations, LLCs and Partnerships
Recording of a 110-minute CPE webinar with Q&A
This course will improve enrolled agents’ familiarity with issues involved in calculating basis for owners of pass-through entities, including adjustments that need to be made to reflect increases to and reductions of the initial owner’s investment.
Basis issues with S corporations
- Increases and decreases to basis
- Order of basis adjustments
- When to calculate basis, and timing rules
- Per-share per-day
- Cut-off method
- Debt basis issues
Basis issues with partnerships
- Inside and outside basis
- Calculation of basis
- Sect. 704(b) vs. tax basis
Partnership and LLC at-risk basis
- At-risk basis and tax basis
- Debt allocation issues
The panel will review these and other key questions:
- What complexities should enrolled agents anticipate regarding basis for pass-through entities?
- What increases and decreases should be considered for the basis calculation?
- Why is the order of calculating increases and decreases important?
- Why should the enrolled agent be aware of basis increases and decreases?
- What are the resulting differences if an entity operates as a S corp., LLC or partnership?
Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.
As one of the firm’s senior tax and legal technicians, Mr. McGrail has provided consulting services to a... | Read More
As one of the firm’s senior tax and legal technicians, Mr. McGrail has provided consulting services to a variety of partnerships, corporations, estates, and high net worth individuals in his 25-year career. He has extensive experience in real estate and engagements including tax structuring for REITs, UPREITs, tax-exempt entities and other investors. He is a CPA and a member of the State Bar of Michigan.Close
Ms. Thaker works with high-net-worth families, corporations, partnerships, expatriates, and inpatriates on wealth... | Read More
Ms. Thaker works with high-net-worth families, corporations, partnerships, expatriates, and inpatriates on wealth transfer and preservation strategies. She works extensively with income, trust and estate taxes.Close