December 4, 2024

Live Webcast

NYSED 2

Section 754 Step-Up in Basis: Understanding the Tax Issues for Partnerships and LLCs Webcast

December 4, 2024
Live Webcast
NYSED 2

  • Instructor

    Pamela
    Davis-Vaughn

  • How and why a partnership makes a 754 election
  • The effect of the 754 election when an interest in a partnership is sold or inherited
  • How the 754 election applies when a partnership makes a distribution of property to one or more of its partners
  • How to make the 754 basis adjustment

Learning Objectives

  • Determine the amount of a Section 754 basis step-up
  • Know how to allocate the basis step-up to the partnership's assets
  • Know how a partnership makes a Section 754 election and reports it to the IRS

Major Topics

  • How and why a partnership makes a 754 election
  • The effect of the 754 election when an interest in a partnership is sold or inherited
  • How the 754 election applies when a partnership makes a distribution of property to one or more of its partners
  • How to make the 754 basis adjustment

CPE Credits Available

NYSED 2
2
Taxation (NYSED) - NYSED

Things to Know About This Course

Course Level

  • Intermediate

Professional Area of Focus

  • Taxation (NYSED)

Prerequisites

A basic understanding of the tax rules impacting individuals and pass-through entities

Advanced Preparation

A basic understanding of the tax rules impacting individuals and pass-through entities

Intended Audience

Any Accounting and Finance Professional who wishes to understand the tax rules and economic opportunities associated with having a partnership make a Section 754 election

Provider

Surgent McCoy CPE LLC

This event has ended.