- Credits: 2
- Format: Self-Study eBook
- Field of Study: Federal Tax Law
- Author/Speaker: Mary Jane Hourani
| Available Formats: | |
|---|---|
| Advanced Preparation: | None |
| Experience Level: | Overview |
| Program Prerequisites: | General Understanding of Taxation |
| Course ID: | EWTFM-T-01889-22-S | 6233-CE-0604 | MJH-428.22 |
| Published Date: | March 2022 |
COURSE DESCRIPTION
This course will focus on Schedule K-1 that a taxpayer may receive from a pass-through entity, Partnership, Subchapter S Corporation, or an Estate/Trust. It will detail the most common characteristics of Schedule K-1 and how to report them on the Individual Income Tax Form 1040. QBI, Qualified Business Income Deduction, will be covered along with the reporting criteria. Discussion of relevant basis and loss limitations will also be addressed in this seminar as well.
Learning Objectives:
After reading the course material, you will be able to:
- Define what a Schedule K-1 is.
- Distinguish the differences between Schedule K-1 received from different entities.
- Outline the application of Basis Limitation, Loss Limitations, and Material Participation.
- Compare and Examine several case studies.
- Review the integration with the QBI (Qualified Business Income Deduction).
- Highlight proposed 2021 changes to Schedule K-2 and Schedule K-3.
Who Should Attend:
- All Certified Public Accountants (CPAs)
- Enrolled Agents (EAs)
- Other Tax Return Preparer (OTRP)
Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:
