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
• distributions
• 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.
Course Objective(s):
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.