Course ID: ADVPT

Advanced Partnership Taxation

Partnerships is one of the most complicated areas of the tax law, and this course deals with several advanced issues. For CPAs who have significant exposure to partnerships, it is essential that these topics are understood. The course focuses on application by working problems to demonstrate the laws for substantial economic effect, sales of partnership interests, disproportionate distributions, Section 754 elections, built-in gains, and allocations of debt.

In-person and live webcast CPE credit: 8.0

Learning Objectives

After completing this course, you will be able to:

  • Predict how the substantial economic effect requirements are satisfied.
  • Evaluate the tax consequences of the disposition of a partnership interest.
  • Formulate the allocation of recourse debt to partners’ bases.
  • Formulate the allocation of nonrecourse debt to partners’ bases.
  • Assess the tax effects of a disproportionate distribution.
  • Evaluate how a Section 754 election affects the basis of partnership assets for sales of partnership interest and distributions.
  • Assess the tax consequences of distributions related to built-in gain property.
Major Topics
  • Substantial economic effect
  • Sale of a partnership interest
  • Allocation of recourse and nonrecourse debt
  • Advanced distribution issues
  • Section 754 elections
  • Section 704(c) property
Advanced Preparations

None

Who Should Attend

Senior staff, managers, and partners

Fields of Study
Taxes
Prerequisites

Introduction to Partnership Taxation and Intermediate Partnership Taxation

Provider
Business Learning Institute
CPE Credits
8.0
Level
Advanced

This course is available for your group as:

 

Let's Roll!

To learn more or customize this course for your group, complete this form and a BLI team member will get back with you shortly.

Or, contact BLI: or team@blionline.org
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