CANCELLED: 2019 Forms 1065 and K-1s: IRS Throws Rocks at Hornet’s Nest

Update participants on: 1. How partnerships (and S Corps) face the at-risk (and passive) activity reporting blues (and what to do about them 2. Negative tax basis capital account reporting – What must be computed and disclosed (and by when) 3. Plethora of other new info required (built-in gains lying in wait, disregarded entity partners, new tiered partnership reporting and more)

1. 2019 Form 1065 and K-1 – New reporting requirements in depth 2. Disregarded entity partners – New disclosures, depth of implications 3. 3 year average annual gross receipts test – 4 places it matters 4. Negative capital accounts – Switch to tax basis reporting 5. Basis in partner’s partnership interest – New inquiries, new treacherie 6. Disguised sales – New question as to partner disclosure 7. §704(c) Built-in gains and loss – Much new “as-you-go” info required 8. Aggregation of at-risk activities – New disclosures with sticky implications 9. Grouping of passive activities – New disclosure and detail required 10. Miscellaneous – Changed reporting for §199A, capital accounts, §754 elections with §743(b) adjustments, sales of partnership interests, partnerships with foreign partners, tiered partnership debt disclosure issues, and so on