Learning Outcomes
Analyze liquidation outcomes and economic impact of special allocations
Distinguish between book and tax allocations under Sections 704(b) and 704(c)
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Earn CPE Credits!
Earn CPE Credits!
This program provides in-depth expertise in partnership and LLC taxation, focusing on complex rules under Subchapter K. It equips professionals with the knowledge required to navigate advanced allocation, distribution, and transaction scenarios. Participants gain practical insight into partnership structures, special allocations, and tax implications of ownership changes, enabling them to advise clients effectively in complex tax situations.
Analyze partnership income allocations under Section 704(b) and 704(c)
Understand recourse and nonrecourse liability allocations
Apply advanced rules for liquidating and nonliquidating distributions
Evaluate tax implications of partnership interest sales
Develop strategies for partnership tax planning and compliance
This program focuses on advanced partnership taxation concepts, including income allocations, liability treatment, and distribution rules. Participants explore Subchapter K provisions, basis adjustments, and partnership transactions to understand complex tax implications.
Understand allocation rules under Sections 704(b) and 704(c), including contributed property scenarios.
Distinguish between recourse and nonrecourse liabilities and their tax implications.
Analyze liquidating and nonliquidating distributions and property basis calculations.
Explore tax consequences, including hot assets, installment sales, and passive interests.
Understand Section 754 elections and basis adjustments under Sections 734(b) and 743(b).
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Larry Tunnell is a tax professional with experience in partnership and LLC taxation, including allocation rules under Subchapter K, treatment of contributed property, and distribution-related tax implications. His work focuses on applying IRS regulations to complex partnership structures and transactions.
Robert Ricketts specializes in advanced partnership tax planning, liability allocations, and basis adjustments affecting partners and LLC members. His experience supports interpretation of Sections 704, 752, and 754 and their application in structuring transactions involving partnership interests.
What Skills Will I Gain?
You will gain advanced knowledge of partnership taxation, including allocations, distributions, liability treatment, and transaction planning.
How Is the Program Delivered?
The program is delivered online in a self-paced format with practical examples and real-world case scenarios.
Who Should Enroll?
This course is ideal for experienced tax professionals, advisors, and finance leaders working with partnerships and LLCs.
What Topics Are Covered?
How Many CPE Credits Are Offered?
The program offers 11 CPE credits upon successful completion.
What Is the Program Level and Field of Study?
The program is designed at an Advanced level and falls under the Taxation field of study.