Reporting Partnership K-1s on Form 1040: Tax Basis Capital, Built-In Gains, and Step-Ups
Note: CLE credit is not offered on this program
A live 110-minute CPE webinar with interactive Q&A
This webinar will review the recent changes made to Schedule K-1 (Form 1065) and guide practitioners in reporting the individual line items on individual income tax returns.
Outline
- Income items, Lines 1-11
- Deductions and losses
- Other reporting items
- Section K: recourse, non-recourse debt, and QNR liabilities
- Capital account reporting
- Additional reporting obligations
Benefits
The panel will review these and other important issues:
- Recent changes made to Schedule K-1
- Reporting differences based on liability type
- Where to report box 11, Other Income (loss) items on the 1040
- The effect of tax basis capital balances on 1040 reporting
Faculty

Terence Coppinger
Partner
Mazars USA
Mr. Coppinger has been advising clients in the areas of tax information reporting and IRS practice and procedure for... | Read More
Mr. Coppinger has been advising clients in the areas of tax information reporting and IRS practice and procedure for more than 24 years. He provides tax consulting and audit representation related services to the firm's asset management, private equity, and hedge fund clients. His practice focuses on domestic and nonresident alien tax information reporting and withholding obligations, the Foreign Account Tax Compliance Act, The Common Reporting Standard and withholding foreign partnerships. Mr. Coppinger has served on the IRS Relations Committee of the New York State Society of CPAs and the IRS’ Information Reporting Program Advisory Committee where he sat on the International Reporting and Withholding subcommittee.
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John Franco, CPA
Tax Senior Manager
Deloitte Tax
Mr. Franco has over 10 years of experience at Deloitte working on partnership transaction planning, structuring, due... | Read More
Mr. Franco has over 10 years of experience at Deloitte working on partnership transaction planning, structuring, due diligence, modeling, and reporting and disclosure issues for a variety of clients in various industries, including investment management, real estate, consumer and industrial products, and energy and resources. He also has assisted with drafting American Bar Association and American Institute of Certified Public Accountants comment letters regarding partnership tax technical issues. Mr. Franco is currently a participating member on the American Institute of Certified Public Accountants Partnership Technical Resource Panel, and he has spoken at both Deloitte and external events on partnership tax issues.
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