Description
Students will be able to discuss the basis of contributed property in various circumstances. Common partnership elections, including when it is beneficial for the partnership to make a Section 754 election, will be described. Students will also be able to describe the disposition of partnership interests, to include liquidation of a partner’s interest at death or retirement and contribution of a partnership interest to charity. Finally, students will be able to explain the proper reporting of partnership income, expenses, and distributive share items on the partnership tax return. New lecture video reinforces concepts! Topic: Disposition of a Partnership Interest IRS #EEZ75-T-00528-24-S CTEC #1071-CE-3251 NASBA #103388