In the News

William Lentine to Present at Strafford Tax Webinar

February 3, 2015

William C. Lentine, Bloomfield Hills-based senior attorney in Dykema’s Taxation and Estates group, will serve as a featured co-presenter for a live CPE webinar entitled, “IRC 754: Partnership and Pass-Through Entity Basis Adjustments.” The webinar is scheduled to take place at 1 p.m. on Tuesday, March 3, 2015.

Lentine and his co-presenters will thoroughly cover Section 754, a complex and critical part of the Code for advisors and tax attorneys involved in partnership tax matters. Section 754 governs an election for treating basis in the event that an interest in a partnership or an LLC taxed as a partnership is sold at fair market value.

The panel will share their experiences with Section 754 and offer best practices to help participants understand, identify and avoid missing election opportunities. Additionally, the panel will review the following key points:

  • Section 754 election rules: How to make a proper election, and the practical pros and cons of doing so
  • Calculate the asset step-up allowable under Section 754
  • Effects of Section 754 elections on depreciation when partnership interest or property is distributed or sold
  • Avoiding common basis adjustment mistakes in calculations and reporting

To learn more about this event, or to register, click here.