TaxGuyBill
Level 15
12-17-2024
05:04 PM
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@Ephesians3-14 wrote:
it's purpose is essentially like IRS Form 7203 (for S Corps) - tracks the partner's basis in the partnership.
Not exactly. As you can see from the title, it only applies when "property" is distributed (not money), so it may not be used very often for many taxpayers.
As for your question, if you are a member of NATP (or want to pay for the class) they have a webinar for it tomorrow and the next day. Otherwise, I suspect some year-end classes will cover it because it is a new form.
https://www.natptax.com/EventsAndEducation/Pages/course-details-live-webinar.aspx?k=WEB2490