This course provides a comprehensive overview of Schedule K-1 reporting for pass-through entities and its impact on individual income tax returns. Attendees will learn how to interpret K-1s, determine basis and loss limitations, and apply recent developments, including 2025-2026 changes to Schedules K-2 and K-3 resulting from IRS guidance and proposed legislation. Whether you're advising clients on business or investment income, this course gives you the foundation to identify common planning opportunities and compliance issues related to Schedule K-1 reporting.
Objectives
At the end of this course, you will be able to- Interpret key information from Schedule K-1 forms, Differentiate K-1 reporting from partnerships, S corps, and trusts, Apply basis and loss limitation rules, Determine passive vs. active income for tax reporting, Recognize Qualified Business Income (QBI) implications, Analyze case studies involving complex K-1 scenarios, Interpret changes to Schedule K-2 and Schedule K-3 reporting requirements, Recommend planning strategies based on K-1 entries
Highlights
Schedule K-1 overview, Basis and loss limitations, Passive vs. active loss rules, QBI deduction, Schedule K-2 and K-3 changes, Planning opportunities, K-1 reporting for partnerships, S corps, and trusts
Who Will Benefit
CPAs, EAs, attorneys, finance professionals, financial planners, insurance agents, and bankers
Notice
Qualifies for EA Credit
Notice
Qualifies for EA Credit
