Nonmembers CPAs pay an additional $21.25 per credit hour for CE classes; nonmember CPAs will be held responsible for paying this additional amount.
This course will review the different types of K-1s (S-corps, Partnerships, LLCs), as well as compare the differences between the various K-1s. More specifically, it will discuss
- general and specialized issues related to S-corporation K-1s and Partnership/LLC K-1s, such as the at-risk rules of Section 465 and the recourse and non-recourse debt rules of Section 752
- loan repayments
- composite state filings
- lower-tier pass-through investors and foreign investor issues
Finally, it will provide real-life fact examples and how such facts are conveyed on the K- 1, as well as a detailed review of Forms 1120, 1065 and K-1.
Attendees will be able to
- prepare both simple and complicated K-1s for various types of entities
- interpret K-1s for investors
- prepare the most complicated K-1s
Prerequisites: The method of presentation is group-live instruction and the program level is basic to intermediate. There are no prerequisites for this course nor is there any advanced preparation required.