Calculating Partner Basis/Capital Accounts and S Corp Shareholder Stock/Debt Basis (CPBC)

Tax practitioners advising business clients must understand tax issues that impact pass-through entities, including rules relating to an S corporation shareholder’s stock and debt basis and a partner’s basis in their partnership interest. Equally important for partners is calculation and reporting of the partner’s capital account. This program covers S corp stock, debt basis and how they relate when losses are allocated to shareholders.

Panelists are subject to change.

• Understanding a partner’s capital account
• Calculating and reporting a partner’s capital account on a tax basis
• Calculating a partner’s basis
• How to report a partner’s capital account distributions
• Form 7203 and an S corp shareholder’s stock and debt basis
• Form 7217 and reporting partnership property distributions
• What is a partnership basis shifting transaction and how is it related to a partnership that has made a §754 election?
• How and when to report partnership basis shifting transactions

• Determine a partner’s/S corporation shareholder’s basis and address IRS reporting issues associated with determining the owner’s basis in a pass-through entity
• Understand what a partner’s capital account is and how it is reported on the Form K-1