Mastering Partnership Taxation: Start to Finish
In this perfect companion to ICLE’s Probate & Estate Planning Institute, get essential partnership taxation guidance from Paul S. Lee, a leading national expert. Estate planners know this area can be downright confounding—full of complicated, cryptic rules and traps for the unwary. Learn key fundamentals like entity formation, property contributions, capital accounts, and Section 704© in a focused small-group format with direct Q&A.
Go step-by-step through partnership formation and operations and discover practical planning opportunities: handling distributions, disguised sales, partnership liabilities, and the complexities of partnership termination—including basis adjustments, retirement or death of a partner, and valuation discounts. Walk away with immediately useful insights you can put to work.
You will be able to:
- Choose the right entity and understand property contributions
- Track capital accounts, outside basis, and tax item allocations
- Navigate distributions, disguised sales, and partnership liabilities
- Recognize mixing bowl transactions and sales of partnership interests
- Handle partnership terminations, including basis adjustments and 754 elections
- Advise on retirement or death of a partner and valuation discounts