ENG2511. A Closer Look at the Final Partnership Basis Regulations (TAX, EST)

This session will provide tax professionals with an understanding of the new IRS and Treasury Department regulations on partnership basis shifting transactions. We will review the basic rules related to property distributions from a partnership and then explore the new Treasury regulations identifying certain transactions as transactions of interest (TOI). The session will discuss the tax implications of these transactions and the compliance obligations for partnerships and material advisors. The session will also discuss the new reporting requirements related to property distributions generally.

Learning Objectives:

• Analyze the concept of basis shifting and its tax implications.
• Identify and report TOI under the new regulations.
• Identify compliance requirements and how to apply them in practice.