Advanced Taxation of Partnerships & LLCs: Basis, Distributions, and Sales of Interest - Tax Staff Essentials
Available for 1 year after purchase date
**OnDemand**
3.5 Credits
Member Price $95.00
Non-Member Price $115.00
Overview
Upskilling tax professionals on essential topics in partnership taxation.
Highlights
Key Topics
- Advanced distribution rules
- Adjustments to the basis of partnership or LLC assets
- Sale of an interest in a partnership or LLC
Prerequisites
Basic knowledge of partnership taxation
Designed For
Who Will Benefit
Managers and partners in public accounting who assist clients with tax planning for closely held LLCs and partnerships
Objectives
Learning Outcomes
- Calculate the basis of each property received by a partner or member receiving multiple properties in a nonliquidating distribution from a partnership or LLC.
- Assess when a partnership or LLC should make a Section 754 election in order to allow it to adjust the basis of its assets.
- Assess required basis adjustments among partnership or LLC assets.
- Calculate the gain on the sale of a partner's or member's interest in a partnership or LLC and determine the character of the gain.
- Analyze the sale of a partnership interest and calculate the amount of gain that must be treated as ordinary income under Section 751(a).
- Evaluate how the installment method will affect how a partner will report the partner's gain or loss on the sale of a partnership interest.
- Assess the consequences for the buyer associated with the sale of an interest in a partnership or LLC.
Non-Member Price $115.00
Member Price $95.00