• videocam Live Webinar with Live Q&A
  • calendar_month June 25, 2026 @ 1:00 PM ET/10:00 AM PT
  • signal_cellular_alt Intermediate
  • card_travel Tax Preparer
  • schedule 110 minutes

Reporting UBTI and UBIT in Partnerships and S Corporations: Mastering K-1 Disclosures for Exempt Org Partners

Key Box 20V Reporting, Footnotes and Separate Disclosures, and UDFI Exemptions

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About the Course

Introduction

This course will provide a comprehensive and practical guide to the rules governing unrelated business income tax on unrelated business taxable income (UBTI) as applied to partnerships and S corporations. The panel will discuss the reporting requirements imposed on tax advisers serving pass-through entities that have exempt organizations as partners or shareholders. The webinar will cover the specific reporting challenges facing tiered partnerships and the effect of the proposed siloing regulations on reporting. It will offer valuable guidance on completing the required disclosures to accompany the partnership Schedule K-1.

Description

An often-overlooked challenge for advisers of pass-through entities in preparing partnership and S corporation tax returns is the presence of exempt organizations as partners or shareholders. Partnerships are required to furnish their partners with the information necessary to compute their distributive share of partnership income and deductions from any unrelated trade or business. Box 20, Code V on the Schedule K-1 should indicate the amount of unrelated business income.

However, the UBTI information is often buried in footnotes, or the impact of UBTI is not accurately addressed at all. For partnerships with exempt org partners, accurate reporting of UBTI is critical to the exempt partner's tax return.

Tax advisers preparing partnership tax returns should consider making separate disclosures detailing UBTI that would be reportable by exempt organization partners. If the partnership holds debt-financed property as assets, this becomes especially critical because the exempt org partner is subject to reporting and payment obligations. Section 514(c)(9) qualified-organization rules may offer relief from unrelated debt-financed income (UDFI) obligations, so the partnership K-1 must identify UDFI in its K-1 disclosures.

Listen as our panel of experienced advisers provides a comprehensive and practical guide to K-1 reporting of UBTI and UDFI for exempt organization partners.

Presented By

J. Calvin Marks, CPA, EA
Principal
Johnson Lambert, LLP

Mr. Marks is an experienced advisor to Tax-Exempt Organizations. He is a Member at AICPA and Member at North Carolina Association of CPAs.

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Credit Information

  • BARBRI is a NASBA CPE sponsor and this 110-minute webinar is accredited for 2.0 CPE credits.

  • BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).

Date + Time

  • event

    Thursday, June 25, 2026

  • schedule

    1:00 PM ET/10:00 AM PT

I. Definition of unrelated business income (UBI)

A. Understanding UBTI: background, overview, and consequences

B. Debt financed property and UDFI (or unrelated debt-financed income)

II. Alternative revenue: partnerships

A. Partnership considerations: fundamentals and reporting

B. Partnership investments: review of Form K-1

C. Planning considerations: summary

The panel will discuss these and other important issues:

  • Understanding situations in which UBTI is a risk and how to inquire further with the exempt organization
  • How to identify risks to the exempt organization's tax exemption
  • Fundamentals of calculating UDFI and exempt organization tax liability
  • How to structure exempt organization investments to minimize exposure to UBTI

Learning Objectives

After completing this course, you will be able to:

  • Identify the disclosure requirements to report UBTI and UDFI on partnership and S corporation K-1s
  • Decide whether an exempt organization partner qualifies for an exemption as a "qualified organization" to UDFI reporting and tax liability
  • Determine whether separate UDFI disclosures are appropriate for debt-financed partnership property
  • Recognize passive loss and at-risk amount limitation disclosures to disclose to exempt org partners
  • Field of Study: Taxes
  • Level of Knowledge: Intermediate
  • Advance Preparation: None
  • Teaching Method: Seminar/Lecture
  • Delivery Method: Group-Internet (via computer)
  • Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of attendance verification prompts displayed throughout the program
  • Prerequisite: Three years+ business or public firm experience preparing Form 1065 partnership tax forms and schedules at mid-level within the organization, supervising the work of other preparers/accountants. Specific knowledge of separate K-1 disclosures and notes for Form 1065. Familiarity with tax issues for exempt organizations and particularly Unrelated Business Taxable Income (UBTI) tax rules and regulations.

BARBRI, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of Accountancy have final authority on the acceptance of individual courses for CPE Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.

IRS Approved Provider

BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).

BARBRI CE webinars-powered by Barbri-are backed by our 100% unconditional money-back guarantee: If you are not satisfied with any of our products, simply let us know and get a full refund. Contact us at 1-800-926-7926 .