M-3 Adjustments, Tax vs. Book Income, and Schedule K/K-1 Overview
 

Date: 10/24/2024
Time: 12:00 PM - 4:00 PM EST
CPE Credit: 4 hours

This 4-hour webcast is designed to provide an overview of the uniqueness of tax vs. book resulting in M-3 adjustments. Also, under discussion, will be the pass-through aspect of the Schedule K-1

Topics Covered

• Purpose of Schedule M-3
• Filing requirements of Schedule M-3
• Who must file Schedule M-3
• Aspects of completing Form M-3
• Entity considerations for Schedule M-3
• Financial information and net income (loss) reconciliation with respect to the Schedule M-3
• Purpose of Schedule K-1 (sub S. Corp)
• Inconsistent treatment of items with respect to schedule K-1 (Sub S Corp.)
• Specific Instructions of Schedule L-1 (Partnership)
• Purpose of Schedule K-1 (Partnership)
• Limitations of Losses, Deductions, and Credits Schedule K-1 (Partnerships)
• Specific Instructions Schedule K-1 (Partnerships)
• Various other aspects of Schedules M-3 and K-1
• Various other aspects of tax vs. book income

Learning Objectives:

• Provide the tax practitioner with practical information to assist clients and employers with the uniqueness of the forms as well as book/tax reconciliation