December 12, 2022


Live Webcast


8 CPE Credits

Advanced Taxation LLCs & Partnerships

December 12, 2022
Live Webcast
8 CPE Credits

Advanced Taxation LLCs & Partnerships

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    Instructor

    Cecil
    Nazareth

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Learning Objectives

• Identify how to allocate income, gains, losses, and deductions among partner/members to reflect their agreed-upon interests properly in partnership or LLC economic activities.


• Determine the risks taken by investors with respect to their investment in a partnership or LLC and allocate the entity's liabilities accordingly.


• Determine the consequences of selling a partnership or LLC interest.


• Calculate the basis of partnership or LLC following distributions of multiple properties.


• Recognize how to plan for the effects of a distribution of multiple properties.


• Identify how to make elections to protect partners and LLC members from unwelcome future consequences arising from current distributions, sales, and/or transfers of interests in the partnership.

Major Topics

• Allocation of partnership and LLC income under Section 704(b)


• Allocations with respect to contributed property


• Allocation of partnership recourse liabilities under Section 752


• Allocation of partnership nonrecourse liabilities and related deductions under Sections 752 and 704(b)


• Advanced distribution rules


• Adjustments to the basis of partnership/LLC assets


• Sale of an interest in a partnership or LLC

CPE Credits Available

8 CPE Credits
8
Tax

Things to Know About This Course

Course Level

  • Advanced

Prerequisites

Basic knowledge of business taxation

Advanced Preparation

None

Intended Audience

Managers and partners in public accounting who assist clients with tax planning for closely held LLCs and partnerships

Provider

American Institute of CPAs (Durham)

This event has ended.