IRC Section 734 Adjustments: Applying The 754 Election To Distributions Of Partnership Property

Webinar: ID# 1026131
Recorded CD
About This Course:
Listen as our panel of veteran advisers provides practical guidance in the form of a detailed case study on the ins-and-outs of the Section 734(b) adjustments and allocations, leaving you prepared to advise on the planning and compliance tasks of this complex area of partnership taxation.

Course Outline
  • The mechanics of a Section 754 election
  • Basis adjustments under Section 734(b)
  • Negative basis adjustment
  • Positive adjustment
  • Allocation of adjustment under IRC 755
  • Case study and illustration
  • Special rules
  • Planning considerations

The panel will review these and other key issues:
  • Making a Section 754 election at partnership level and understanding “inside basis” vs. “outside basis”
  • Understanding optional basis adjustment under Section 734(b)
  • Calculating the Section 734(b) basis adjustment on retained partnership assets
  • Allocating the Section 734(b) optional basis adjustment
  • Reporting Section 734 basis adjustment on a partner’s tax return
  • Planning considerations and consequences of 734 basis adjustment
Learning Objectives

Upon completing this webinar, you will be able to:
  • Ascertain inside basis adjustments
  • Determine the tax consequences of making an IRC 754 election
  • Distinguish IRC 734 and 743 adjustments
  • Identify when downward basis adjustments are required
  • Ascertain when IRC 755 impacts basis adjustments and allocations
How To Access Course And Materials

Handout materials and the phone number for live presentations are made available to you one day prior to the event via email from the presenter. Copies of the presentations are included with recorded versions.

If you order a recorded version of the webinar, CDs will be mailed out approximately 10 days after the live event. Shipping is included in the price of recorded versions.

Continuing Education Credits Available

This program has been approved for 2.0 CPE hours through Strafford Publications. To obtain CPE credit, attendees must participate in the live event (recorded versions do not qualify for credit), return an Official Record of Attendance to Strafford affirming their participation (including the CPE code announced during the program), and pay a processing fee of $35 per person.

Strafford will mail a certificate of credit within approximately two weeks of receiving your completed Official Record of Attendance, provided all required conditions have been satisfied.

Strafford is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit.
IRC Section 734 Adjustments: Applying The 754 Election To Distributions Of Partnership Property
Available on CD format
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