October 21, 2025


Webcast Replay


4 CPE

Reviewing Partnership Tax Returns: What Are You Missing?

October 21, 2025
Webcast Replay
4 CPE

Reviewing Partnership Tax Returns: What Are You Missing?

Learning Objectives

  • Identify the mechanics of a partnership’s tax return, including partner capital account calculations and permissible tax years.
  • Determine the proper allocation of recourse liabilities among partners.
  • Analyze the consequences of a new partner joining a partnership.
  • Determine depreciation expense among the contributing and noncontributing partners under Section 704(c).
  • Determine the value of assets with nonrecourse liabilities.

Major Topics

  • Common errors made involving the following:
  • Form 1065
  • Schedules K and K-1
  • Schedules M-1 and M-2
  • Calculating recourse and nonrecourse liabilities
  • Partner inside and outside basis
  • Partner’s capital account analysis
  • Sections 704(b), 704(c), 721, 722, 732(b), 734(b), 737, 743(b)

CPE Credits Available

4 CPE
4
Taxes

Things to Know About This Course

Course Level

  • Intermediate

Professional Area of Focus

  • Pracitioner
  • Pracitioner's
  • Pracitioners
  • Tax;Taxation

Prerequisites

Experience with partnership tax return preparation

Advanced Preparation

None

Intended Audience

  • Partners and managers in CPA firms
  • Experienced CPA staff

Provider

AICPA

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