BEGIN:VCALENDAR
VERSION:2.0
PRODID:-//South Carolina Association of CPAs - ECPv6.16.3//NONSGML v1.0//EN
CALSCALE:GREGORIAN
METHOD:PUBLISH
X-WR-CALNAME:South Carolina Association of CPAs
X-ORIGINAL-URL:https://sc.cpa
X-WR-CALDESC:Events for South Carolina Association of CPAs
REFRESH-INTERVAL;VALUE=DURATION:PT1H
X-Robots-Tag:noindex
X-PUBLISHED-TTL:PT1H
BEGIN:VTIMEZONE
TZID:America/Detroit
BEGIN:DAYLIGHT
TZOFFSETFROM:-0500
TZOFFSETTO:-0400
TZNAME:EDT
DTSTART:20250309T070000
END:DAYLIGHT
BEGIN:STANDARD
TZOFFSETFROM:-0400
TZOFFSETTO:-0500
TZNAME:EST
DTSTART:20251102T060000
END:STANDARD
BEGIN:DAYLIGHT
TZOFFSETFROM:-0500
TZOFFSETTO:-0400
TZNAME:EDT
DTSTART:20260308T070000
END:DAYLIGHT
BEGIN:STANDARD
TZOFFSETFROM:-0400
TZOFFSETTO:-0500
TZNAME:EST
DTSTART:20261101T060000
END:STANDARD
BEGIN:DAYLIGHT
TZOFFSETFROM:-0500
TZOFFSETTO:-0400
TZNAME:EDT
DTSTART:20270314T070000
END:DAYLIGHT
BEGIN:STANDARD
TZOFFSETFROM:-0400
TZOFFSETTO:-0500
TZNAME:EST
DTSTART:20271107T060000
END:STANDARD
END:VTIMEZONE
BEGIN:VEVENT
DTSTART;TZID=America/Detroit:20260709T130000
DTEND;TZID=America/Detroit:20260709T150000
DTSTAMP:20260615T085351
CREATED:20260515T011319Z
LAST-MODIFIED:20260611T041015Z
UID:10005835-1783602000-1783609200@sc.cpa
SUMMARY:(LITX04/27) Understanding Partnership Taxation - Basis & Contributions
DESCRIPTION:Event Description\nCalculating partnership basis is one of the most important things that we do as practitioners. However\, it is also one of the most confusing. When we use the term basis\, we really could be referring to one of three different things! This course will explore the differences between inside basis\, outside basis\, and 704(b) basis. Through several examples and practice problems\, we will show you how to easily distinguish between these terms. We will also explore the tax implications of initial contributions of property to a partnership. \nObjectives\nCalculate Inside Basis\, Outside Basis\, and 704(b) Basis. Recognize the concept of Substantial Economic Effect. List the three requirements that need to be present for an allocation to be deemed to have Economic Effect. Calculate the reallocation of items of gains and loss under IRC 704(b) when a qualified income offset is present.  Recognize the tax effects of transferring cash\, property\, and services to a partnership. Recall the tax effects of contributing assets to a partnership that are encumbered by debt.
URL:https://sc.cpa/event/litx04-27-understanding-partnership-taxation-basis-contributions/
CATEGORIES:Livestream
ORGANIZER;CN="David R. Peters%2C CPA%2C CFP%2C CLU%2C CPCU":MAILTO:david@petersprofessionaleducation.com
END:VEVENT
END:VCALENDAR