Fundamentals of Partnership Taxation (4101083A)

Begin at the beginning! Become immersed in the details of the Internal Revenue Code many major partnership provisions. Familiarize yourself with partnership taxation issues. Tackle formation accounting, concept identification and problem solving. This comprehensive course will thoroughly prepare those new to partnership taxation and update those who need to know the latest as you explore typically encountered partnership issues.

Note: This is a survey course, not a forms preparation course.

• Understand IRC Subchapter K.
• Identify key partnership tax issues.
• Explain tax return compliance procedures.
• Understand underlying tax basis calculations.

• Formations of partnerships-rules governing contributions
• Allocations of income
• Partners' distributive shares of debt
• Partnership operations-reporting and compliance issues
• Non-liquidating distributions of property
• Liquidating distributions of property
• Basis allocation rules
• Contents of Schedule K-1
• Limited liability companies

CPAs and attorneys. Tax return preparers with up to three tax seasons will benefit most, although more experienced practitioners who have not worked with partnerships for a long time or who are not familiar with LLCs also will benefit.

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To ensure that all credit is properly recorded, please review your personal profile and update your CPA, CFP, CTEC and/or Bar license number(s).