Preparing Form 1065: Part 1 (Half-Day Webinar) (Completed)

The IRS has made massive changes to the 2021 Form 1065. We’ll present a comprehensive course on preparing Form 1065, including in-depth treatment of the important new changes.

Join expert Greg White, CPA, as he walks you through how to complete Form 1065 and apply new rules that are crucial to preparing partnership tax returns.

Who Should Attend
CPAs and CPA aspirants in public practice and tax staff in private practice who have a minimum of two years of partnership taxation experience.

Topics Covered

• 2021 changes on Schedule K
• When does a business involving spouses require a partnership return?
• How to eliminate late-filing penalties for partnership returns
• How to eliminate late-filing penalties for partnWhen must a partnership return be filed? ership returns
• How to apply the bonus depreciation rules to partnership step-ups under §743
• New IRS form allowing revocation of section 754 election
  • Answering Form 1065 questions on passive activity grouping
  • When should real estate partnerships elect out of the 30% interest expense limit under §163(j)?
    • Including new changes in the depreciable period used for real estate businesses that elect out of §163(j)

  Learning Objectives
  

  • Identify how to complete Form 1065
  • Recognize and apply new rules that are crucial to preparing partnership tax returns

  Level
  Basic

  Instructional Method
  Group: Internet-based

  NASBA Field of Study
  Taxes (4 hours)

  Program Prerequisites
  Basic knowledge of partnership and real estate federal taxation

  Advance Preparation
  None