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Partnerships Certificate Program LIVE - Turning Theory to Practice
IRS Program #: X9QQU-T-00905-22-O
CTEC #: 6257-CE-0110
CE: 2 IRS CE & 2 CTEC credits
Speaker: Darryl Brown, PhD, EA, CPA
Turning Theory to Practice
When it comes to taxes, there is always a gap between knowledge acquisition and the application of such knowledge. This course seeks to bridge that gap by providing real-world examples using the case study method. Building on the knowledge obtained in the other certificate courses, our case study will examine a partnership from inception to liquidation, and cover topics such as contributions, distributions, sales of partnership interests, redemptions, unreimbursed partnership expenses, information necessary to prepare a complete and accurate partnership income tax return, and array of other items. An overarching goal of the course is to demonstrate--through examples--how to apply the knowledge obtained in the other partnership certificate courses.
Understand the process and information necessary to prepare a complete and accurate partnership income tax return
Understand when a partnership exists, when it begins, and when it terminates (for tax purposes)
Tax accounting for contributed built-in gain or loss property
Allocating liabilities under Section 752
Tax accounting for unreimbursed partnership expenses
Calculate tax basis capital accounts, and other concepts learned elsewhere in the certificate program