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Partnership Taxation - Basis Adjustments  

CATEGORY: Taxation
COURSE ID: CLPTR2, VERSION 4.00
(103)
  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.

By proceeding to the examination, you acknowledge and confirm that you have completed the required coursework.

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