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The taxation of partnerships has become more complex in the past several years.
This course highlights the major areas of concern for tax advisors and their clients in compliance and planning for partnership operations, distributions and transactions.
Course topics include, special allocations, targeted allocations, proper calculation of outside and inside tax basis, tax consequences of distributions, impact of “hot assets” on distributions and transfer of partnership interests, issuance of partnership interests to service partners and a comprehensive overview of the Form 1065 with accompanying schedules. Learn how to properly report and calculate critical partnership tax items that generate most IRS audit adjustments.
Tax professionals who need an in-depth training course on tax preparation issues, basis calculations, reporting of tax basis capital accounts and distributions rules for partnerships, LLCs and their owners.