• Email: support@webcpe.net
  • Call: +1 (405) 210-4802

Course No: 9273223

Partnership Taxation (Mini Course)

$25

  • Credits: 2.0
  • Program level: Overview
  • Prerequisites: General understanding of federal income taxation.

Field of Study: Tax Law Topic

Course Description

In this course, the intricacies of setting up and terminating an S corporation are detailed and taxation is discussed. The numerous advantages and disadvantages of this entity are identified to help practitioners determine whether the S corporation is most suitable for their clients. Eligible domestic corporations can avoid double taxation by electing to be treated as an S corporation under the rules of Subchapter S. Subchapter S provides an optional method of corporate taxation and allows small business corporations to elect unusual tax treatment. The S corporation is taxed like a partnership, but in other respects, S corporations are taxed like C corporations.

Learning objectives

  • Recognize the tax treatment of partnerships specifying advantages and disadvantages and their effect on income attribution
  • Determine partnership income and reporting requirements by: Identifying filing requirements and the impact partnership K-1’s on individual or partner taxation; and Specifying loss deduction limitations and stating the tax treatment of guaranteed payments, organizational expenses, and other fees.
  • Identify the tax treatment of contributions of property to a partnership under §721 and the impact on tax basis.
  • Recognize the tax treatment of partnership distributions and sale of partnership interests by: Identifying the tax treatment of partner liabilities and of sales and exchanges of partnership interests and property; and Determining the differences between liquidating and nonliquidating payments including the definition of a partner’s basis on such an event.

Advance preparation: none

Course Material: Online Material

Type of delivery method: QAS Self-study

Final examination expiration date:

The program participant will have one year from the date of purchase to complete the course and final examination.

We are Register with

Web CPE is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit.

Web CPE is registered with the IRS to provide Continuing Education (CE) programs to the Enrolled Agents and other tax return practitioners.

© 2005 - 2024 WEB CPE Inc. All Rights Reserved

Design & Development By:- Digital Marketing Solution (Pvt.) Ltd.