1065 Preparation and Planning 4: Schedule K-1, Treatment of Partners, and Partnership Audits (2018) (Currently Unavailable)

Author: Barbara Weltman, Sidney Kess

CPE Credit:  2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC

This course, the fourth in the series, reviews the principles of partnership income tax preparation. It provides an overview of preparing schedule K-1 and reviews the treatment of partnership income. It concludes with a review of partnership audits.

This course reflects the tax law before the enactment of TCJA.

Publication Date: November 2017

Designed For
Tax practitioners.

Topics Covered

  • Completing schedule K-1
  • Partnership agreements and distributive share
  • Administrative aspects of Schedule K-1
  • Treatment of partners
  • Basis
  • Partnership Audits

Learning Objectives

  • Transfer apportioned items from Schedule K to Schedule K-1
  • Utilize basis limitations and the impact of liabilities on basis
  • Identify the Tax Matters Partner
  • Apply the rules for audits of partnership return

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
None

Advance Preparation
None

">
 Chat — Books Support