Course Information
Partnership Taxation
Course Information
| Title: | Partnership Taxation |
|---|---|
| Category: | Taxation |
| Field of Study: | Taxes |
| Course Code: | T022-0161 |
| CPE Credits: | 2.0 |
| Price: | 19.95 |
Description
Description:
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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Objectives
Objectives:
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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Profession
NASBA: Yes
QAS: Yes
CPA: Suitable for all CPAs
IRS: IRS credit for Enrolled Agents.
Profession Identifiers: CPA, EA