​​​​​​​Preparing Partnership Returns On-Demand Online Workshop

8​ CPE for AFSP, EA, CPA, CRTP​

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Summary​​

This course is perfect for tax professionals who want to begin learning how to prepare Form 1065, U.S. Return of Partnership Income. Not only does this course cover the basics of partnership taxation, it also covers the step-by-step process of completing a partnership return and the accompanying schedules, tracking the partner’s basis and finishes with a comprehensive case study. Leave with an understanding of the tax consequences of distributions from a partnership.

Objectives

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

• Summarize the tax consequences of forming a partnership, including contributions of property or services
• Analyze a partnership agreement and profit/loss allocations
• Choose a tax year and accounting method for the partnership
• Summarize how to report guaranteed payments, fringe benefits and separately stated items for partners
• Recognize items that increase or decrease a partner’s basis in the partnership
• Identify which liabilities increase a partner’s at-risk basis
• Analyze the tax consequences of distributions from a partnership
• Prepare a basic Form 1065, including Schedules K, K-1, L, M-1 and M-2

Course details

The workshop includes e-book, presentation slides and access to the workshop recording.

​Presented by: Penny Wade Smith, EA
Course Year: 2024
Duration: 8 Credit Hours
Course Level: Basic
Prerequisite: None
Advanced Preparation: None
Delivery Method: QAS Self Study
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How to earn CPE

To receive credit for this on-demand online workshop, you must make at least one attempt to answer each of the review questions included with the video. You must also successfully pass the course exam with a score of 70% or better. The course and exam will expire one year from the date of purchase.​​

Cancellation policy

​​Because this is an online education offering, it is nonrefundable.​​​​​