Understanding Schedule K-1 Using Tax Opportunities Efficiently WEBCAST

Overview

This course provides a comprehensive overview of Schedule K-1 reporting for pass-through entities and its impact on individual income tax returns. 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.

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.

Prerequisites

A basic understanding of tax reporting and planning.

Designed For

CPAs, EAs, attorneys, finance professionals, financial planners, insurance agents, and bankers.

Objectives

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 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.

Preparation

None.

Notice

Qualifies for EA Credit.