Partnership Taxation

Course Information

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Title: Partnership Taxation
Category: Taxation
Field of Study: Taxes
Course Code: T022-0161
CPE Credits: 2.0
Price: 19.95



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.

Delivery Method: Online Interactive Self Study

Level: Overview

Prerequisites: None

Advanced Preparation: None

Course Details

Category: Taxation

Field of Study: Taxes

Passing Score: 70%

Technical Details: Taxes: Technical

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1. Recognize the tax treatment of partnerships specifying advantages and disadvantages and their effect on income attribution. 2. Determine partnership income and reporting requirements by: a. Identifying filing requirements and the impact partnership K-1s on individual or partner taxation; and b. Specifying loss deduction limitations and stating the tax treatment of guaranteed payments, organizational expenses and other fees. 3. Identify the tax treatment of contributions of property to a partnership under Section 721 and the impact on tax basis. 4. Recognize the tax treatment of partnership distributions and sale of partnership interests by: a. Identifying the tax treatment of partner liabilities and of sales and exchanges of partnership interests and property; and b. Determining the differences between liquidating and non-liquidating payments including definition of a partner’s basis on such an event.

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QAS: Yes

CPA: Suitable for all CPAs

IRS: IRS credit for Enrolled Agents.

Profession Identifiers: CPA, EA