Description
Upon completion of this seminar, students will be able to identify the different types of partnerships. Students will understand the importance of the partnership agreement. Students will determine how a partner’s adjusted basis and capital account balances are calculated and be able to differentiate between the partner’s capital account and capital interests. This seminar discusses partnership recourse and nonrecourse liabilities, partnership distributions, and transactions between partners and partnerships. Students will understand the concept of partnership distributions and its effect. We will also explain the rules of termination of a partnership. New lecture video reinforces concepts! Topic: Capital Accounts and Capital Interests IRS #EEZ75-T-00527-24-S CTEC #1071-CE-3250 NASBA #103388