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?
Mr. Gallegos, CPA, MST, is a tax partner on Porte Brown’s accounting and consulting services team in... | Read More
Mr. Gallegos, CPA, MST, is a tax partner on Porte Brown’s accounting and consulting services team in the Elgin, Illinois, office. He has more than 20 years of experience. Mr. Gallegos spends a great deal of time advising, speaking, and writing about international tax, mergers & acquisitions and credits and incentives. He has been entrenched in the intricacies of tax legislations and impending changes. Mr. Gallegos co-hosts a recurring webinar series on the topic and regularly speaks on tax legislation and other tax topics. Prior to working at Porte Brown, Mr. Gallegos worked for two national accounting firms focusing on middle market clients. He has a passion for helping clients navigate the complicated tax code and being their business advisor to help them be successful.Close
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
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CPE credit is not available on downloads.