*RESCHEDULED* Understanding Partnership Taxation [PTB4]
Time: 08:30am-12:00pm
Subject:
TaxationCredit Hours:
4.00Price:
Member: $160.00
Non-member: $230.00
Discussion Leader:
William F. (Bill) Taylor, CPA
more info
William F. (Bill) Taylor, CPA is President of Lifetime Financial Solutions, LLC, a financial coaching firm, and a CPA in private practice. Since retiring as Community Bank President of Renasant Bank in Water Valley, MS, he has served as an adjunct assistant professor in the MBA program at the University of Mississippi. Bill has worked in the employee benefit and investment fields for over 25 years, beginning his career as the Employee Benefits Coordinator in the Jackson, MS, office of KPMG Peat Marwick and managing his own firm since 1999. A nationally known consultant and speaker, Bill has conducted seminars for the American Institute of Certified Public Accountants, the American Society of Pension Professionals & Actuaries, CPA and bar associations in 45 states, and many private organizations. He has been awarded both the AICPA Outstanding Discussion Leader award and the James L. McCoy Discussion Leader of the Year Award from Surgent CPE. Bill is the author of Taxation of Employee Benefits Volume I and Volume II, and his articles have appeared in numerous publications.
closeWebsite registration for this course closes on October 1, 2026. To register after this date please contact the society at akcpa@ak.net or 907-562-4334.
Full Description
*RESCHEDULED* Understanding Partnership Taxation: Types of Basis, Contributions & Distributions (PTB4)October 2nd, 2026 / 8:30 am 12:00 pm
Elgee Rehfeld, LLC
9309 Glacier Highway, Suite B-200
Juneau, AK
Calculating partnership basis is one of the most important things that we do as practitioners. However, it is also one of the most confusing. When we use the term basis, we really could be referring to one of three different things. This course will explore the differences between inside basis, outside basis, and 704(b) basis. Through several examples and practice problems, we will show you how to easily distinguish among these terms. We will also explore the tax implications of initial contributions of property to a partnership as well as the different types of partnership distributions.
Major Topics:
-Three different types of basis
-Contributions of property
-IRC 704(b) Capital Accounts and Special Allocations
-Contributions of property and debt
-Contributions of services
-IRS Notice 2020-43
Learning Objectives:
-Calculate inside basis, outside basis, and 704(b) basis
-Recognize the concept of substantial economic effect
-List the three requirements that need to be present for an allocation to be deemed to have economic effect
-Calculate the reallocation of items of gains and loss under IRC 704(b) when a qualified income offset is present
-Recognize the tax effects of transferring cash, property, and services to a partnership
-Recall the tax effects of contributing assets that are encumbered by debt to a partnership
-List the key rules of thumb to remember when dealing with distributions
-State the ordering rules for calculating a partners tax basis
-Describe the key differences between liquidating and non-liquidating distributions
-Determine any applicable tax gains and losses of cash and property distributions
-State the ordering rules for hybrid distributions that involve both cash and property
Designed For: Tax practitioners who are looking to improve their knowledge of basis types, the calculation of basis, and the implications of making contributions to a partnership
CPE Credits: 4, Taxation
Level of Knowledge: Intermediate
Prerequisite: Working knowledge of fundamental partnership tax concepts
Acronym: PTB4
Discussion Leader: William F. (Bill) Taylor, CPA
