Course: Partnership Tax-Mini Course

 Author: Danny C. Santucci

Course ID: TXPMDCSM

CPE Hours: 3

Format: PDF

Course Description
The mini-course will examine tax issues relating to the formation and operation of partnerships. Participants will gain a familiarity with basic areas of partnership taxation so as to recognize a problem and have at hand some practical knowledge for its solution. 

Price: $27.00 

Delivery: Internet/Interactive

NASBA Category: Taxation

Learning Objective

After reading the chapter, participants will be able to:

•  Explain the tax treatment of partnerships listing advantages and disadvantages and demonstrating their affect on income attribution.
• Calculate and report partnership income by:

a. Identifying filing requirements and the impact partnership K-1’s on individual or partner taxation; and

b. Specifying loss deduction limitations and explaining the tax treatment of guaranteed payments, organizational expenses and other fees.      

• Analyze the tax treatment of contributions of property to a partnership under §721 and describe the impact on tax basis.
• Determine the tax treatment of partnership distributions and sale of partnership interests by:

a. Explaining the tax treatment of partner liabilities and of sales and exchanges of partnership interests and property; and

b. Distinguishing between liquidating and nonliquidating payments including determination of a partner’s basis on such an event.

Level:Overview
Overview-This program is appropriate for professionals at all organizational levels

Prerequisites: None

Updated/Revised: April 2012