- NY Credits : 2.0
- TX Credits : 2.0
- IRS Enrolled Agent Credits : Federal Tax/Tax Related Matters - 2.0
Most practitioners deal with Form 1065, U.S. Return of Partnership Income, on a regular basis. This program discusses the basic concepts of partnerships, including the definition of a partnership, how to determine if an entity should be classified as a partnership or a corporation, the various kinds of partnerships, other entities that may choose to be taxed as a partnership, and the requirements necessary to legally form a partnership.
Upon successful completion of this course, the user should be able to:
determine what constitutes a partnership, identify the two characteristics that a partnership and corporation share,
recognize the various kinds of partnerships and the difference between the partner's liability in each,
identify other entities that may choose to be taxed as a partnership, and
describe the various types of partners.