Source: https://www.wyocpa.org/professional_development/course/003418-surgents_handbook_for_mastering_basis_distributins_and_loss_limitation_issues_for_s_corps_llcs_and_partnerships
Timestamp: 2018-12-16 03:55:07
Document Index: 270939412

Matched Legal Cases: ['§179', '§704', '§704', '§465', '§754', '§351', '§721']

Surgent's Handbook for Mastering Basis: Distributins and Loss Limitation Issues for S Corps, LLCs and Partnerships - Professional Development - WYOCPA - Wyoming Society of Certified Public Accountants
Surgent's Handbook for Mastering Basis: Distributins and Loss Limitation Issues for S Corps, LLCs and Partnerships
8:00am – 4:00pm	(Registration: 7:30am)
Surgent & Associates, LLC
Discuss a proposal for a yet to be developed new tax form, which
calculates basis, designed to be attached to individual returns
Executor’s new IRS form for disclosing basis in certain distributed
property; what about basis of a property distribution from a trust?
How §179 limitations affect basis & how tax-benefit rule is applied
Calculating basis of inherited qualified and joint tenancy property
S corporations: Beware of final IRS regulations regarding “open
debt”; determine how to calculate basis; worksheets are included;
understand the effect of stock basis & debt basis and IRS’s recent
focus on “at-risk basis” for shareholders; recognize how AAA
applies or not to S corporations; learn to apply the complex basis
ordering rules and special elections that can have a big tax result;
discuss loss limitation rules in depth; when you can have a taxable
dividend in an S corporation; understand distributions of cash and
property; understand the post-termination transition rules, which
will be important if (when) tax changes bring the return of C corps
LLCs and partnerships: Learn the detailed rules of §704 for
preventing the shifting of tax consequences among partners or
members; learn to calculate basis under §704 & for “at-risk” under
§465; recognize how recourse, nonrecourse, and qualified
nonrecourse debt can create significantly different tax results;
learn the difference between basis and “at-risk basis”; review §754
step-up in basis rules; the economic effect equivalence test or
“dumb-but-lucky” rule; learn to apply the complex rules of
distribution of cash vs. property
Determine initial basis & organizing tax-free under §351 and §721
Pas the four loss limitation hurdles to deduct pass-through losses
Late Registration Fee (will be added after November 27, 2018)
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