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Webcast

Partnership Basis & S Corporation Basis {Form 7203}

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$49.00

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CPE Credits

1 Credits: Taxes
Course Level
Basic
Format
Webcast

Course Description

As a tax professional, it’s imperative to know basis rules and calculations for our clients that are shareholders and or partners in Pass-through entities. Furthermore, we must analyze how basis rules affect their individual Form 1040 tax return.

This session will provide a valuable and essential overview for Partnership and S Corporation basis issues

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Learning Objectives

Upon completion of this course, participants will be able to:

  • Determine when and why we need basis for our clients’ Pass-through entities.
  • Analyze Form 7203.
  • Examine the significance of basis
  • Explain who is responsible for keeping basis
  • Differentiate inside and outside basis
  • Review basis calculation for partners and shareholders.
  • Assess the election pursuant to Regulation 1.1367-1(g)
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Course Specifics

Course ID
WC1824398388
Revision Date
December 10, 2024
Prerequisites

None

Advanced Preparation

None

Compliance Information

NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-02681-24-O
IRS Federal Tax Law Credits: 1
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-2119
CTEC Federal Tax Law Credits: 1

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.

CTEC Notice: California Tax Education Council DOES NOT allow partial credit, course must be taken in entirety. Western CPE has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, by phone toll-free at (877) 850-2832, or on the Internet at www.ctec.org.

Meet The Experts

A.J. Reynolds, EA
A.J. Reynolds, EA

A.J. Reynolds, EA has over thirty years of experience encompassing various areas of taxation. Though his practice centers on Individual, Business, and Estate Tax preparation, A.J. focuses a portion of his practice to IRS Representation. As diverse as his specializations, A.J.’s clientele, too, ranges from average workers to Fortune 500 executives. Additionally, A.J volunteers his time with the Iowa Legal Aid’s Managing Attorney assisting in Tax Court cases and assorted income tax issues. A.J. brings his everyday “in the trenches” experience to seminars and webinars for multiple organizations to assist attendees with real issues affecting tax professionals. A.J. started his …

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