Mobile Edition

Special Topics in Partnership and LLC Taxation (4173127E)

Date:Tuesday, January 30, 2018
Time:9:30 AM - 5:00 PM
(Registration at 9:00 AM)
Facility:Webcast or Webinar, Online
CPE Credit:8.0 Technical Business
Instructor: Michael Vinson
Vendor:California CPA Education Foundation
Course Level:Intermediate
Early Bird Price:$245.00 FICPA Members, $365.00 Non-Members


Tax practitioners have long grappled with understanding the rules contained in Subchapter K of the Internal Revenue Code and the related Treasury Regulations. The rules are complex and offer many tax planning opportunities as well as traps for the unwary. This course provides an in-depth analysis of some of the key partnership tax issues and how they affect partnership structuring and the reporting of partnership results.

  • Identify fundamental tax planning opportunities and risks related to partnership contributions and distributions.
  • Recall the rules for testing partnership allocations under the partner's interest in the partnership test versus the substantial economic effect regulations.
  • Determine differences between partnership recourse and nonrecourse debt and the consequences of each.
  • Select the best method for making mandatory allocations relating to Section 704(c) property.
  • Determine how to apply the optional and mandatory inside basis adjustment rules.

Major Topics:
  • Partnership/LLC formations (IRC Sec. 721)
  • Income/loss allocations (IRC Sec. 704(b))
  • Allocations related to property with a tax-book difference (IRC Sec. 704(c))
  • Partnership/LLC distributions (IRC Secs. 731-732)
  • Partner's tax basis and the impact of debt (IRC Sec. 752)
  • Inside basis adjustments (IRC Sec. 754)

Who Should Attend:

CPAs and attorneys who desire an in-depth analysis of the key issues in partnership/LLC taxation.

Three years of relevant experience or an understanding partnership and LLC taxation.

Advanced Preparation:


If listed below, select the appropriate sessions or options to continue with your purchase.

Registration Status: CLOSED - Online registration for this course is now closed. Please contact the Member Service Center at (800) 342-3197 if you wish to inquire about registering.