Novogradac Reviewing LIHTC Lower-Tier Tax Returns for Non-CPAs Webinar (SEP 2019)

Friday, September 6, 2019 - 10:00am to 12:30pm
September 6, 2019 - 10:00am to 12:30pm

This webinar addresses the basic elements of the Federal Form 1065 used by low-income housing tax credit (LIHTC) "lower-tier" operating partnerships. Instructors will discuss specific forms, schedules and common attachments as well as key boxes and line items within them. 


Topics Covered

  • Concepts
    • Pass-through entities for federal tax purposes and typical LIHTC tiered structure
    • Partnership Form 1065 overview
    • Partner capital accounts
    • Debt allocation-recourse vs. nonrecourse liabilities
    • Low-income housing credits
  • Tax Forms and Schedules
    • Schedule K - Partners' Distributive Share Items
    • Schedules K-1 for individual partners
    • Schedule L - Balance Sheet per Books
    • Schedule M-1 - Reconciliation of Income (Loss) per Books With Income (Loss) per Return
    • Schedule M-2 - Analysis of Partners' Capital Accounts
    • Schedule M-3 - Net Income (Loss) Reconciliation for Certain Partnerships
    • Form 8825 - Rental Real Estate Income and Expenses of a Partnership or an S Corporation
    • Form 8586 - Low-Income Housing Credit
    • Form 8609 - Low-Income Housing Credit Allocation and Certification
    • Form 8609-A - Annual Statement for Low-Income Housing Credit
    • Form 4562 - Depreciation and Amortization

CPE Information

Target Audience

Asset managers of both developer and syndicator, developer controller and accountants, tax matters partner, agents of the partnership, tax compliance department, capital account maintenance, transaction team members.

Members of other CPA firms: please be advised that this is a basics webinar in which Novogradac & Company will not be revealing any key trade secrets or "tricks of the trade" in how to prepare tax returns.

Terms and Conditions

Receiving Login Info and Handouts

Registration Rates

Standard: $115
Nonprofit: $100
Multiple Registrations: $105/person ($90/person for nonprofits)