Partnership Taxation

Catalog description

This course examines the tax consequences of formation of a partnership, basis of partnership interests and basis of partnership assets and effect of liabilities on basis; partnership elections, including choice of fiscal periods and method of accounting; continuation; mergers, and termination of partnerships and partners' taxable years; family partnership; sales and exchanges of partnerships; liquidating and non-liquidating distributions from partnerships; methods and tax consequences concerning the retiring partner; recognition of the entity problem, including limited partnerships.