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Partnership Taxation - Basis Adjustments  

CATEGORY: Taxation
COURSE ID: CLPTR2, VERSION 3.00
(92)
  Online & Mobile
2 CPE Credits

Partnerships can be complicated, especially when there are changes to partners, distributions of assets, transfers, exchanges, and sales of partnership assets. A partnership's basis in its assets is unaffected by partnership distributions and transfers of partnership interests unless a Code Sec. 754 basis adjustment election has been made by the partnership or the partnership has a substantial basis reduction. This course details how basis adjustments are calculated and made to partnership property, depending on different circumstances, and includes examples and scenarios.

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