Surgent's Top Ten Questions from Partnership Clients Regarding the Section754 Election

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  • Location
    • Your Computer
      Your Space
      ISCPA / Surgent Webinar, ID 00000
  • Credits
    • 4.00
  • Credit Type(s)
    • Taxes (Technical) (4.00)
  • Prerequisites
    • A basic understanding of the tax rules impacting individuals and pass-through entities

  • Vendor
    • Surgent
  • Level
    • Intermediate
  • Fields of Study
    • Taxes
  • Message
    • Virtual Experience

Description

This program is an in-depth analysis of the Section 754 election and the two adjustments associated with the election under Section 743(b) and Section 734(b). The 754 election is a highly technical provision that provides great tax benefits to the owners of the partnership, and particularly in the case of Section 743(b), a new partner. In this webinar, our expert panel will cover the most common questions encountered by practitioners in their daily practices. The program includes a number of examples that provide insights into the mechanics of the two adjustments that follow upon a Section 754 election.

  • Presented by Mike Tucker, Ph.D., LL.M., J.D., CPA


  • Qualifies for IRS CE Credit
  • Designed For

    Accounting and financial professionals seeking to fortify their Section 754 knowledge base

    Objectives

    • Be familiar with the practical issues surrounding Section 754 and its application
    • Effectively advise clients on these complex issues

    Highlights

    • How does a partner compute his or her basis in a partnership?
    • What is the difference between a partner’s inside and outside basis?
    • What is the difference between a partner’s capital account and partner’s outside basis?
    • How does Section 732(d) impact the buyer of a partnership interest?
    • How does a partnership report a Section 754 election on the partnership’s tax return?
    • How does a partnership make a Section 754 election?
    • How does a partnership make a Section 743(b) adjustment?
    • How does a partnership make a Section 734(b) adjustment?
    • How is a Section 743(b) adjustment or Section 734(b) adjustment allocated to the assets of a partnership?
    • How is a Section 743(b) adjustment allocated within the class of ordinary income property and capital gain property?

    Advanced Prep

    None

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    Leaders

    Surgent Panel

    No Biography Available

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