Surgent’s Understanding Partnership Taxation: Debt Allocations
Description
How debt is allocated to the partners in a partnership is important. It dictates how much money may be taken tax-free as a distribution, the losses that flow down to the partners, and the gain or loss on the sale of a partnership interest. However, the allocation of debt can differ depending on the type of debt it is and the type of partner we are talking about. Furthermore, 704(c) can complicate things. And what in the world is a constructive liquidation scenario? In this course, we will tackle the concept of debt allocations – how you do it, what it means, and why you do it.
Objective
State how debt allocations affect the calculation of a partner’s basis in the partnership Recognize how recourse and nonrecourse debt are allocated to partners Identify the tax effects of 704(c) on contributed property
Advanced Preparation
None
Required Knowledge
Working knowledge of fundamental partnership tax concepts
Who Should Attend
Tax practitioners who are looking to improve their knowledge of debt allocations and how they affect a partner’s tax basis
Credit Types
- CPE – Taxes
- Enrolled Agent
Registration Fees
| Registration | Type | Price |
|---|---|---|
| WRS21026: Registration – Member | Mem | $105 |
| WRS21026: Registration – Non-Member | NM | $230 |
The North Carolina Association of Certified Public Accountants is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org/.For information regarding refund, complaint, program cancellation or other policies, visit our Registration Policies page or call 800-469-1352.