Upcoming Seminar: Partnership Distributions and Basis Adjustments – Advanced Issues

Thursday, March 14, 2013
1:00 PM – 3:00 PM US Eastern
12:00 PM – 2:00 PM US Central
11:00 AM – 1:00 PM US Mountain
10:00 AM – 12:00 PM US Pacific
5:00 PM – 7:00 PM GMT

Presented by: James R. Hamill, CPA, Ph.D.

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Handle the Complexities of Partnership Distributions and Basis Adjustments
Presented by nationally recognized tax practitioner, instructor and commentator, James Hamill, CPA, Ph.D., this two-hour online CPE seminar is designed for personnel with responsibility for reviewing partnership and LLC tax returns and planning for partnership tax entities. This program provides an in-depth analysis of special problems that arise when partnership property is distributed, including the effects of the Section 754 election on both transfers of interests and distributions of property. Dr. Hamill will discuss the basis distribution rules, how to determine when distributions may accelerate partnership Section 704(c) gain, partnership Section 754 elections, and more.
All professionals involved with partnership and LLC tax compliance and planning matters will benefit from this insightful seminar. The course presentation time will include opportunities for you to ask questions directly to Dr. Hamill via email.
Program Topics
  • Basis Assignment to Distributions
    • Money
    • Capital or Section 1231 Property
    • Ordinary-Income Property
  • When Is Gain or Loss Recognized from a Distribution?
  • Effects of a Section 754 Election
  • Early Recognition of Section 704(c) Gains
    • Section 704(c) Property Distributed to Another Partner
    • Other Property Distributed to Section 704(c) Partner
  • Disguised Sale Transactions
Learning Objectives
  • Review the basis distribution rules
  • Determine when distributions may accelerate partnership Section 704(c) gain
  • Evaluate the effects of a partnership Section 754 election on both transfers of interests and distributions of property
Who Should Attend?
  • Tax partners, managers, and staff, CPAs, enrolled agents, tax return preparers, tax attorneys, and other practitioners who prepare income tax returns and advise partnership and LLC clients on tax matters.
Earn CPE Credit
  • Two hours CPE credit. One free CPE certificate for one person is provided with each site registration. CPE certificates are available for $25 each for each additional person wishing to receive CPE credit for their participation.
  • Course Level: Intermediate
  • NASBA Field of Study: Taxes
  • Prerequisite: Experience with partnership tax returns
  • RTRP/EA Credits: This course has been submitted for registration with the IRS
  • CFP Credits: This course has been submitted for registration with the CFP Board
  • Learn More About CCH’s NASBA Registration
Special Gift
  • Firms registering for this seminar will receive as a bonus the following publication – a complimentary gift copy of CCH’s Journal of Passthrough Entities in electronic format.
About the Speaker
James R. Hamill, CPA, Ph.D.
Dr. Hamill is the Director of Tax Practice at Reynolds, Hix & Co., P.A., in Albuquerque, New Mexico.  He is the author of more than 30 CPE courses and more than 100 articles in professional tax journals and writes a weekly column on tax issues for the Albuquerque Journal.  He has lectured on structuring tax transactions throughout the country for international CPA firms, State CPA Societies, and numerous other organizations.  He has developed and instructed webinars on a variety of tax topics over the past 10 years. He is a CPA in New Mexico, a past Chair of the New Mexico Society of CPAs and has 30 years of experience in tax practice.
Comments from Attendees of Past CCH Seminars Presented by Jim Hamill
  • “Impressive speaker!”
  • “Great presenter and good handouts”
  • “Dr. Hamill is extremely knowledgeable and explained the material quite thoroughly. Very worthwhile seminar.”
  • “very good coverage of a complex tax area”
  • “Dr. Hamill is a very good speaker.”
  • “James knows his stuff.”
  • “Really like the speaker, he kept it simple and we all enjoy the real stories out there.”
  • “One of the best presentations I’ve listened to.”
  • “Outstanding presenter!”
  • “This speaker was great at making this topic very understandable. This was one of the most useful teleconferences I have listened to.”
  • “…well worthwhile time and expense”
  • “Dr. Hamill was a VERY good speaker. He kept my attention well…”
Recordings of Related Seminars
You may also be interested in archive recordings of these past CCH Seminars:

Additional Information




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