Novogradac Reviewing LIHTC Lower-Tier Tax Returns for Non-CPAs Webinar (Sep '20)

Thursday, September 3, 2020 - 10:00am to 12:30pm
September 3, 2020 - 10:00am to 12:30pm

This webinar airs from 10 a.m. to 12:30 p.m. PT (1 p.m. to 3:30 p.m. ET)

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.

Praise From Past Attendees

Instructors

Wayne Michael, CPA, NPCC, HCCP
Senior Director of Education
Novogradac

Jimmy Pokorny, CPA
Manager
Novogradac

Justin Chubb Lurya, CPA
Manager
Novogradac

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

    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
    CPE Information

    Registration Rates*

    Standard: $120
    Nonprofit: $105
    Multiple Registrants: $105/person ($90/person for nonprofits)

    *The standard and nonprofit registration fee for live online webinars and for webinar recordings covers a SINGLE VIEWER ONLY. If multiple persons within an organization wish to view the webinar and/or its recording (regardless of whether they view it on a single computer or multiple computers), the organization must purchase a registration for each person.