- NY Credits : 6.0
- TX Credits : 6.0
- IRS Enrolled Agent Credits : Federal Tax/Tax Related Matters - 6.0
This course will provide a basic discussion of the federal taxation of partnerships and LLCs, including a number of tax topics that are relevant not only to an actual partnership entity, but also to the tax consequences for each of its owners and partners. The chapters cover fundamentals, basic concepts, partnership formation, partnership operations, basis in partnership interest, taxation of partners, and partnership terminations. This basic level course is most beneficial to professionals new to partnership and LLC taxation who may be at the staff or entry level in organization but also for a seasoned professional with limited exposure to this topic.
Included with subscription(s):
Upon successful completion of this course, the user should be able to:
identify the fundamental tax concepts of partnerships and LLCs and the related IRS scrutiny,
identify various technical tax topics that affect partnerships and LLCs,
recognize the key elements of partnership formation,
identify the fundamentals of operating a partnership,
calculate the basis in a partnership,
recognize the key elements of taxation of partners, and
identify the elements of partnership terminations.