Partnership Taxation

Icon_Self-Study
QAS Self-Study
Icon_Level
Overview
Credits
CPE Credits
2 Credits: Taxes

Course Description

The mini-course 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.

Learning Objectives

  • After completing this chapter, participants will be able to:
    • Recognize the tax treatment of partnerships noting advantages and disadvantages and their effect on income attribution.
    • Determine partnership income and reporting requirements by:
    1. Identifying filing requirements and the impact partnership K-1s on individual or partner taxation; and
    2. Specifying loss deduction limitations and stating the tax treatment of guaranteed payments, organizational expenses, and other fees.
    • Identify the tax treatment of contributions of property to a partnership under §721 and the impact on tax basis.
    • Recognize the tax treatment of partnership distributions and sale of partnership interests by:
    1. Identifying the tax treatment of partner liabilities and of sales and exchanges of partnership interests and property; and
    2. Determining the differences between liquidating and non-liquidating payments including the definition of a partner’s basis on such an event.

Course Specifics

Course ID
8202682
Revision Date
April 14, 2022
Prerequisites

There are no prerequisites.

Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-01651-20-S
IRS Federal Tax Law Credits: 2
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-0437
CTEC Federal Tax Law Credits: 2

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registeration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board.

Course Instructor

Danny Santucci Headshot
Danny Santucci, JD

Danny Santucci, BA, JD, is a prolific author of tax and financial books and articles. His legal career started with the business and litigation firm of Edwards, Edwards, and Ashton. Later he joined the Century City entertainment firm of Bushkin, Gaims, Gaines, and Jonas working for many well-known celebrities. In 1980, Danny established the law firm of Santucci, Potter, and Leanders in Irvine, California. With increasing lecture and writing commitments, Danny went into sole practice in 1995. His practice emphasizes business taxation, real estate law, and estate planning. Speaking to more than 100 groups nationally each year, he is known …

Danny Santucci, JD Read More »

Partnership Taxation

Expert Instructors
CPE CREDITS
2 Credits: Taxes

$58.00$78.00

Clear
Icon_Self-Study
QAS Self-Study
Icon_Level
Overview
Credits
CPE Credits
2 Credits: Taxes

Course Description

The mini-course 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.

Learning Objectives

  • After completing this chapter, participants will be able to:
    • Recognize the tax treatment of partnerships noting advantages and disadvantages and their effect on income attribution.
    • Determine partnership income and reporting requirements by:
    1. Identifying filing requirements and the impact partnership K-1s on individual or partner taxation; and
    2. Specifying loss deduction limitations and stating the tax treatment of guaranteed payments, organizational expenses, and other fees.
    • Identify the tax treatment of contributions of property to a partnership under §721 and the impact on tax basis.
    • Recognize the tax treatment of partnership distributions and sale of partnership interests by:
    1. Identifying the tax treatment of partner liabilities and of sales and exchanges of partnership interests and property; and
    2. Determining the differences between liquidating and non-liquidating payments including the definition of a partner’s basis on such an event.

Course Specifics

Course ID
8202682
Revision Date
April 14, 2022
Prerequisites

There are no prerequisites.

Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-01651-20-S
IRS Federal Tax Law Credits: 2
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-0437
CTEC Federal Tax Law Credits: 2

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registeration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board.

Course Instructor

Danny Santucci Headshot
Danny Santucci, JD

Danny Santucci, BA, JD, is a prolific author of tax and financial books and articles. His legal career started with the business and litigation firm of Edwards, Edwards, and Ashton. Later he joined the Century City entertainment firm of Bushkin, Gaims, Gaines, and Jonas working for many well-known celebrities. In 1980, Danny established the law firm of Santucci, Potter, and Leanders in Irvine, California. With increasing lecture and writing commitments, Danny went into sole practice in 1995. His practice emphasizes business taxation, real estate law, and estate planning. Speaking to more than 100 groups nationally each year, he is known …

Danny Santucci, JD Read More »

Partnership Taxation

Expert Instructors
CPE CREDITS
2 Credits: Taxes

$58.00$78.00

Clear