CCA’s John Alfonsi will speak at the upcoming Strafford live webinar, “Capital Accounts: 704(b) vs. GAAP vs. Tax Basis, Comparing and Contrasting Annual Allocations,” on Wednesday, September 28, 2022 from 1:00 pm-2:50 pm EDT.
Properly maintaining partners’ capital accounts may be the most critical aspect of partnership taxation.
Among some of the topics covered will be:
- Calculating and maintaining partners’ capital account balances under 704(b), GAAP, and tax basis reporting requirements
- The importance of each valuation method, compare and contrast annual recording differences for each, and how to maintain capital account balances for each partner
- Insights into utilizing the transactional approach outlined in the instructions to Form 1065
- Respecting partnership allocations and 704(b)
- Implications of negative tax capital accounts
The session also includes a live Q&A session afterward to address participant’s concerns directly.