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Partnership TaxationCode: 25-PARTNER
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Course Details
265 Pages
The program 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. This course is presented in four practical segments: (1) the formation of partnerships, (2) the basic day-to-day operations of partnerships, (3) distributions of assets to partners, and (4) the termination of partnership affairs.
OBJECTIVES:
To provide participants with a fundamental examination of commonly encountered partnership tax problems, in order to develop skills for later dealing with partnership tax problems.
MAJOR TOPICS:
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Definition of A Partnership
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Formation & Capitalization
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Buy/sell Agreements
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Contributions of Property & Services
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Profit & Capital Interests
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Basis & Debt Allocation Rules
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Transactions with Partners
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At-risk Limitations
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Special Allocations Under §704(b)
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Hot Assets & Recapture
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Partnership Audit Procedures
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Terminations & Reorganizations
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Estate Planning
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Tax Year Options
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Basis Adjustments
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Passive Loss Rules
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Sale of Partnership Interest
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Cash & Property Distributions
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Guaranteed Payments
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Capital Account Adjustments
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Treatment of Suspended Losses
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Fringe Benefit Limitations
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Available Retirement Plans
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Incorporation
Presentation Method: Self-Study
Category: Taxation
CPE credit: 13 Hours
Program Level: Update
Prerequisites: None
Advance Preparation: None
Exam expiration date: Participants must submit exams for grading within one year from the date of purchase
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