Nuts & Bolts of IRC Sec. 704

Presentation delivered by Brandon LeBlanc, Senior Tax Manager, and Mike Chmelik, Tax Manager, of Ernst & Young

IRC Sec. 704 may be a complex and confounding statute. In this seminar, Ernst & Young will boil Partnership capital account and allocation rules down to easy to understand basics. Attendees will learn the basics of IRC Secs. 704(b) and 704(c), key concepts around calculating a partner’s distributive share, and receive an update on recent and anticipated developments in partnership tax rules. By the end of the presentation, attendees will have a better understanding of how IRC Sec. 704(c) provides support to IRC Sec. 704(b) for making sense of the tax allocations when assets contributed to a partnership have a difference between the agreed economic value and tax basis.

This course qualifies for 1.0 hour of CPE in the Taxes field of study and 1.0 hour of CLE. It will be delivered in a live group method on June 28, 2017, from 5:10 to 6:00 pm.

This course is designed to comply with Colorado State Board of Accountancy, NASBA CPE, and Colorado CLE standards. Participants are encouraged to confirm eligibility compliance with their jurisdiction. Refunds will be issued if the event is cancelled by FTL or for cancellations received 48 hours before the start of the event. Questions, concerns, and complaints may be submitted to

To register to attend, click here. This program is free for FTL members and up to two guests and $35 for non-FTL members.