Correcting & Reconstructing Partner Basis
This course reviews accurate reporting, correcting, and reconstructing for partner basis. Individual and business tax preparers should review some critical basis miscalculations and identify clients with these issues and how to fix them. See how incoming or exiting partners and LLC members' accounts are handled plus basis issues when an entity closes or distributes assets. We'll also cover two very common matters affecting partner basis related to how businesses reported ERC refunds and PPP loans on the entity tax returns. These entity reporting errors cause basis to be understated, often by substantial amounts. We'll also discuss IRS guidance and compliance issues related to historical basis errors and potential fixes.
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*Self-Study recording available for IRS CE Credit only (NO CPE)
NASBA Field of Study: Taxes
IRS Program #: 7Q3WU-T-00967-26
CTEC Course #: 6248-CE-00328
Jane Ryder
,
EA, CPA
Jane Ryder, EA, CPA is a national speaker on many accounting, tax, and business compliance topics. She runs her CPA firm, Brass Tax Ryder Professional Group, Inc.in San Diego, California. Brass Tax (not affiliated with Brass Tax Presentations) has been providing tax and accounting services since 1980.Brass Tax is a business centric practice, preparing and consulting on the preparation of Corporations, S corporations, LLCs, Partnerships, and Trusts. She also specializes in IRS and state agencies collections, audit appeals, offers in compromise, and other compliance related matters.
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