Partnership Taxation Overview
The 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.

Course Publication Date: June 07, 2019

This course is available with NO ADDITIONAL FEE if you have an active self study membership or can be purchased for $20.00!

Author:Danny Santucci
Course No:TAX-PARTNER-5619-M
Recommended CPE:2.00
Delivery Method:QAS Self Study
Level of Knowledge:Overview
Prerequisites:General understanding of federal income taxation
Advanced Preparation:None
Recommended Field of Study:Taxes
  
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Learning Objectives
  • Recognize the tax treatment of partnerships noting advantages and disadvantages and their effect on income attribution.
  • Determine partnership income and reporting requirements by identifying filing requirements and the impact partnership K-1’s on individual or partner taxation.
  • Determine partnership income and reporting requirements by specifying loss deduction limitations and stating the tax treatment of guaranteed payments, organizational expenses, and other fees.
  • Identify the tax treatment of contributions of property to a partnership under §721 and the impact on tax basis.
  • Recognize the tax treatment of partnership distributions and sale of partnership interests by identifying the tax treatment of partner liabilities and of sales and exchanges of partnership interests and property.
  • Recognize the tax treatment of partnership distributions and sale of partnership interests by determining the differences between liquidating and nonliquidating payments including the definition of a partner’s basis on such an event.

CPE Depot 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 credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

Sponsor Number: 109423

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