Reviewing Partnership Tax Returns: What Are You Missing? (4 hours)
Overview
Tips to help reviewers catch errors in partnership and LLC tax returns before they are submitted.
Highlights
Prerequisites
Basic knowledge of partnership taxation
Designed For
Objectives
- Identify common mistakes made on partnership tax returns.
- Calculate the balance in the partners' capital accounts and enter the results on Form 1065 and on the Schedules K-1.
- Identify the purposes of Schedules L, M-1, and M-2.
- Recognize the tax treatment, both at the partner and the partnership level, of guaranteed payments to a partner.
- Identify and report Section 1202 gains on Form 1065.
- Determine the ordinary loss to the partners from the sale of Section 1244 stock.
- Determine how installment sales are taxed and disclosed by partnerships.
- Determine book value following a revaluation of LLC or partnership assets.
- Determine strategies to avoid making mistakes on partnership tax returns.
Notice
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Non-Member Price $261.00
Member Price $213.00