Partnership Taxation: Sales, Terminations & Transfer of Partners’ Interest Self-Study Webinar (1.5 Hours)

Partnership Taxation: Sales, Terminations & Transfer of Partners’ Interest Self-Study Webinar (1.5 Hours)

CPE Credit: 1.5 Hours

Price: $99.00

NASBA Field of Study: Taxes

 

Overview

Maximize the tax benefits involved in the purchase, sale or redemption of partnership interests. In this informative self-study webinar, you will learn the components of terminating a partnership, and discover essential methods for determining distributions in the liquidation of a partnership.
 

AGENDA HIGHLIGHTS


  Terminations, Liquidations & Transfers of Ownership
   – Liquidated by the partnership

   – Structuring a liquidation under §736
   – Technical terminations
   – Final regulations for determining a partner’s distributive share
   – Disposition of entire interest
   – Methods of allocation
   – Three conventions
      – Calendar day
      – Semi-monthly
  
   – Monthly­
   – Distributive share when a partner’s interest varies
   – Partner allocations
   – Extraordinary items
   – Allocable cash basis and tiered partnership items

  Sale of Partnership Interest & §754 Adjustment
   – Calculating basis adjustment
   – Allocating specific partnership properties

   – The §754 election

 

LEARNING OBJECTIVE  To show tax professionals how to proceed in the termination of a partnership, and methods for determining
distributions in the liquidation of a partnership interest.

PREREQUISITE  Basic knowledge of federal taxation.    ADVANCE PREPARATION  None.    PROGRAM LEVEL  Intermediate.
NASBA FIELD OF STUDY  Taxes.    DELIVERY METHOD  Self-Study.

Speakers

SPEAKER


W. Stewart Connard, CPA

Detailed Learning Objectives

Recognize the rules for allocating partnership items when a partner’s interest varies during the partnership’s tax year

Recognize the tax ramification to a partner when selling or transferring his partnership interest

Recognize the conceptual purpose of the Section 754 election

Recognize the mechanics of a Section 754 step up in basis