Description
Upon completion of this seminar, students will become familiar with partnerships and how they are treated for tax purposes. Students will recognize the different types of partners and understand the extent of each partner’s liability to the partnership. The partner’s basis in the partnership will be discussed. Self-employment tax as it relates to partners in a partnership will be covered. Students will gain an understanding of partnership income and expenses and how to report them on Form 1065 as well as on other forms and schedules. Finally, the sale or exchange of a partnership interest will be explained. New lecture videos reinforces concepts! Topics: Schedules M-1 and M-2 (1065 vs. S-Corp)Schedules M-1 and M-2 (1065 vs. S-Corp) Partnership Basis and Basis of Partner’s in Partnership IRS #EEZ75-T-00507-24-S CTEC #1071-CE-3234 NASBA #103388