Intermediate Partnership Taxation (Half-Day Webinar) (Completed)

Date: Monday, November 25, 2019
Instructor: James R. Hamill
Begin Time:  8:00am Pacific Time
9:00am Mountain Time
10:00am Central Time
11:00am Eastern Time
CPE Credit:  4 hours for CPAs
4 hours Federal Tax Related for EAs and OTRPs
4 hours Federal Tax Law for CTEC

The fastest growing tax reporting entity is the LLC taxed as a partnership. Tax practitioners now see partnership tax vehicles used by any type of taxpayer, including large corporations. The flexibility of partnership taxation has much to do with their use, but the distinctions between the “aggregate” and the “entity” approaches create significant uncertainty in many transactions.

This session is “Part II” of a two-part program on partnership taxation. This session will take a deeper dive into some of the more complicated issues in partnership tax reporting and tax planning, including special allocations and how to use them, nonrecourse debt shares, and special problems with distributions.

In this four-hour CPE webinar nationally recognized tax expert and instructor James Hamill, CPA, Ph.D., will explain the best tax-planning strategies for partnership taxation. The session will address two types of allocations – safe harbor and targeted, when Section 704(c) controls allocations, the three-step approach to sharing nonrecourse liabilities, disguised sales, distributions of marketable securities, and distributions that may accelerate recognition of Section 704(c) gains.

Who Should Attend
CPAs, EAs, tax preparers and other tax professionals with responsibility for assisting clients with partnership tax returns and tax-planning strategies.

Topics Covered

  • Safe Harbor Allocations
  • Special allocations of W-2 wages and UBIA for Section 199A
  • Target allocations
  • Nonrecourse debt shares
  • Marketable securities as cash for distribution purposes
  • Disguised sales
  • Sections 704(c)(1)(B) distributions
  • Section 737 distributions
  • Section 704(b) capital account maintenance

Learning Objectives

  • Recognize how to allocate items of profit and loss
  • Describe how to make special allocations that work
  • Identify special problems with distributions
  • Recognize how to maintain Section 704(b) capital and why


Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (4 hours)

Program Prerequisites
Basic understanding of partnership taxation.

Advance Preparation

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