Partnership Taxation: Level II
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Overview
Designed for leading-edge tax practitioners, this seminar provides the sophisticated knowledge you'll need to become an expert in federal tax planning for partners and partnerships. You'll:
- Gain an understanding of the 704(b) and (c) regulations
- Understand the interplay of tax allocations and the economics of the partnership agreement
- Explore partner's share of partnership liabilities
- Analyze the impact of the latest tax changes
Objective
To give the tax professional the special knowledge and skills to deal with advanced partnership tax topics and special problems ranging from allocations to complex transactions between the partner and partnership. Participants will analyze the regulations by working through actual examples and reviewing partnership agreements.
Emphasis
- Impact of recent developments on partners and partnerships
- The Section 199A qualified business income deduction
- Proper language in partnership agreements for profit and loss allocations
- Analysis of Sections 704 and 752
- Dissecting and reconstructing the partners' capital account
- Partnership distributions and partner's basis for distributed property
- Deficit makeup provisions
- Identification and treatment of "hot assets"
- Disguised sales, including reporting requirements
- Payments to retiring partners or successors of deceased partners
- Anti-abuse regulations
Prerequisite
Partnership Taxation: Level I or equivalent
Level of Knowledge
Intermediate
CPE Credits
8
Hours
NASBA Field of Study
Taxes