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 webinar 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?
Brian T. Lovett, CPA, JD
Mr. Lovett has extensive experience serving the tax needs of both public companies and closely-held businesses,... | Read More
Mr. Lovett has extensive experience serving the tax needs of both public companies and closely-held businesses, including all aspects of tax compliance for partnerships and corporations. He advises clients with regard to the structure and tax consequences of new business ventures, and assists with restructuring existing businesses for increased tax efficiency. Prior to joining his firm, he was with a “Big 4” accounting firm, working closely with large, multinational real estate investment companies.Close
Ernst & Young
Mr. Yang specializes in partnership taxation with a primary focus on flow-through entity tax compliance and... | Read More
Mr. Yang specializes in partnership taxation with a primary focus on flow-through entity tax compliance and transactions. He has worked with clients on various tax planning and consulting engagements which include 743(b) calculations, Section 704(c) analysis, mergers and acquisitions, and yearly 704(b)/tax capital account and income calculations. During the last couple of years, Mr. Yang has assisted clients in making sure they stay compliant with the new Subchapter K reporting rules and filing obligations. Throughout his career, Mr. Yang has served clients in a wide array of industries, including media and entertainment, private equity, private family offices, partnerships with an Up-C structure, and real estate.Close