Partnership Tax

Catalog description

This course is a study of the provisions of the Internal Revenue Code that govern the taxation of partners and partnerships. These provisions apply to the majority business enterprises formed today, both partnerships and limited liability companies, and familiarity with them is essential for any student considering a career in tax law. Topics covered will include the tax consequences of contributions to and distributions from partnerships, the rules governing allocations of income among partners, and the tax treatment of acquisitions and dispositions of partnerships interests. Prerequisite(s): LAW 7601 .