Schedule K-1 Disclosures for Pass-Through Entities: At-Risk, Basis, and Passive Activity Schedules
Sec. 163(j), QBI, 704(c), and Tax Basis Capital Reporting Requirements
Note: CLE credit is not offered on this program
Recording of a 110-minute CPE webinar with Q&A
This course will discuss the latest IRS requirements for disclosing information to partners and shareholders on Schedule K-1. Our panel of tax experts will explain how to present attachments clearly and concisely for shareholders and partners of flow-through entities. They will provide examples and practical tips for tax practitioners and businesses struggling with the additional mandatory disclosures on Schedule K-1.
- Schedule K-1 changes: an overview
- Negative and tax basis capital reporting
- 704(c) gains and losses
- Passive losses
- Amounts at risk
- Disregarded entities
- Other required disclosures
- Partnership and S corporation disclosure differences
The panel will discuss these and other critical issues:
- How to prepare supporting basis and at-risk schedules
- How to disclose QBI to shareholders and partners for presentation on their individual income tax returns
- Where, when, and how is 704(c) gain and loss information disclosed?
- What should be disclosed for aggregation and grouping elections?
Chris Catarino, CPA, MT
Drucker & Scaccetti
Mr. Catarin excels in individual and pass-through entity taxation. He focuses on all aspects of real estate investment... | Read More
Mr. Catarin excels in individual and pass-through entity taxation. He focuses on all aspects of real estate investment and development, including ownership structuring and transaction planning, and is a founding member of D&S's Opportunity Zone practice group. Mr. Catarin also works with closely held businesses, complex high-net-worth families and corporate executives on tax and personal financial planning.Close
Joseph J. Criscuolo, CPA, MT
Drucker & Scaccetti
Mr. Criscuolo provides accounting, tax compliance, and business consulting services to a broad base of clients,... | Read More
Mr. Criscuolo provides accounting, tax compliance, and business consulting services to a broad base of clients, including tiered partnership structures, professional athletes, highnet-worth individuals, closely held businesses, and C-suite executives. He has also worked with manufacturing and distribution companies, residential real estate partnerships, and loan out corporations. Mr. Criscuolo has developed a focus on tax planning for professional athletes, including contract analysis, residency/domicile planning, and implications related to signing, reporting, and playing bonus agreements.Close
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