IRC Section 751 {Hot Assets}

1 Credits: Taxes


Webcasts are available for viewing Monday – Saturday, 8am – 8pm ET.
Without FlexCast, you must start with enough time to finish. (1 Hr/Credit)

 Secure Transaction

IRC Section 751 {Hot Assets}

Course Level
CPE Credits

1 Credits: Taxes

Course Description

When a partner starts the negotiation process to sale their interest they may not consider the tax treatment of Hot Assets. These Hot Assets are business assets, that if sold have the potential to create ordinary income.

This course will provide a useful overview of techniques to assist the tax professional in assisting their clients who sell partnership interests.

Ensure that we do not, as tax advisors, assume that equally situated taxpayers will be treated similarly by the Tax Code.

Show More
Show Less

Learning Objectives

Upon completing this course, participants will be able to:

  • Distinguish the categories of Hot Assets
  • Analyze the three (3) steps necessary to be calculated on every calculation regarding IRC Section 751
  • Extrapolate issues skulking in the tax code that can surface and cause tax pain to our clients
  • Interpret why similar types of entities do not always result with the same tax results
  • Discuss Form 8308
  • Provide detail examples to demonstrate how Section 751 applies to the sale of partners’ interest
Show More
Show Less

Course Specifics

Course ID
Revision Date
September 16, 2022


Advanced Preparation


Compliance Information

NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-02074-22-O
IRS Federal Tax Law Credits: 1
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-1809
CTEC Federal Tax Law Credits: 1

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration 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. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.

CTEC Notice: California Tax Education Council DOES NOT allow partial credit, course must be taken in entirety. Western CPE has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, by phone toll-free at (877) 850-2832, or on the Internet at

Meet The Experts

A.J. Reynolds, EA

A.J. Reynolds, EA has over thirty years of experience encompassing various areas of taxation. Though his practice centers on Individual, Business, and Estate Tax preparation, A.J. focuses a portion of his practice to IRS Representation. As diverse as his specializations, A.J.’s clientele, too, ranges from average workers to Fortune 500 executives. Additionally, A.J volunteers his time with the Iowa Legal Aid’s Managing Attorney assisting in Tax Court cases and assorted income tax issues. A.J. brings his everyday “in the trenches” experience to seminars and webinars for multiple organizations to assist attendees with real issues affecting tax professionals. A.J. started his …