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Partnership Dispositions

  • Accountant
  • AFSP
  • CRTP
  • CPA (US)
  • EA
  • ORTP
  • Maryland Tax Preparer
  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Course Description

A partner may dispose of an interest in a partnership in different ways - sale, exchange, gift, death, or abandonment. This transaction unit focuses on the tax issues related to the sale of a partnership interest.

This CE/CPE course will look at the basics of partnership distributions and abandonments.

Abandoned partnership interests are treated as ordinary losses for tax purposes, assuming that no exchange has occurred. Avoiding an exchange is the key to ensuring more favorable ordinary loss treatment. An exchange can be triggered by receiving an actual (i.e., cash) or a deemed distribution.

The CE/CPE Tax webinar will first understand abandonments and their tax treatment of them and after, we will look at the basics of a partnership disposition.

Generally, when a partner sells his or her partnership interest, the transaction is treated as the disposition of a capital asset, and any gain from the sale is taxed at lower capital gains rates. A notable exception to this treatment occurs when the partnership holds “hot assets” detailed in IRC Section 751.

This CE/CPE course will also focus on more complex dispositions involving ordinary assets that fall under IRC 751(a) and (b). It will also cover the reporting required under 751(a) and (b) as well as the disposition of PTP interests.

Learning Objectives

  • To discuss the outside basis of partnerships.
  • To analyze partnership dispositions.
  • To analyze complex calculations for partnerships like IRC 751 and liquidating distributions.
  • To inspect how to properly comply with disclosure requirements for partnership dispositions.
  • To investigate the ins and outs of partnership return preparation related to dispositions.

Recommended For

  • This IRS-Approved CE/CPE webinar is recommended for CPA, EA, AFSPs, CRTP, Tax Professionals, Tax Directors, Tax Practitioners, and Tax Attorneys desiring to understand everything about Partnership Dispositions.

Who Should Attend?

  • Bookkeepers & Accountants & Tax Preparers
  • California Registered Tax Professional
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Maryland Tax Preparers
  • Oregon Tax Preparers
  • Tax Accountant (Industry)
  • Tax Attorney
  • Tax Director (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Professionals
  • Tax Pros
  • Trust & Estate Tax Professional
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 1 CE Credit of Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-00853-21-O)
  • 1 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 1 CE Credit of Federal tax-related matters for Annual Filing Season Program (AFSP)
  • 1 CE Credit of Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0795)
  • 1 CE Credit of Federal tax-related matters for Maryland Tax Preparer