2CPE $119.00

This course dives deep into the latest IRS requirements, including tax basis capital account reporting, tiered partnership disclosures, and built-in gains tracking. We’ll show you what the IRS wants, why it matters, and how to comply without losing your mind. If you prepare partnership returns, this session is your roadmap to avoiding costly mistakes and staying ahead of the compliance curve. .

Topics Covered

•         Capital accounts – Tax basis reporting tweaked again

•         2025 Form 1065 Schedule K-1 – Reporting requirements

•         Disregarded entity partners – Disclosures, depth of implications

•         3-year average annual gross receipts test – 5 places it matters

•         Basis in partner’s partnership interest – Timing, timing, timing, timing

•         Disguised sales – Form 1065 question re: partner disclosure

•         §704(c) Built-in gains and loss – New “as-you-go” info required

•         Aggregation of at-risk activities – Disclosures with sticky implications

•         Grouping of passive activities – Disclosure and detail required

•         Changes to forms highlighted

Learning Objectives

•         Identify the adventure IRS throws in front of any preparer of Form 1065, Schedule K-1

•         Identify new opportunities and challenges affected by OBBB Act

•         Identify the plethora of K-1 info required (built-in gains lying in wait, disregarded entity partners, new tiered partnership reporting and more)

•         Identify tax basis capital account reporting – What must be computed and disclosed (and by when)

•         Identify the basic computation for a partner’s capital account

Level Update

Instructional Method Group: Internet-based

NASBA Field of Study Taxes (2 hours)

Program Prerequisites Basic understanding of tax preparation.

Advance Preparation None

IRS CE # IVYPC-T-00007-26-O