Description
Our Understanding Advanced Partnership Taxation series takes a look at some of the more difficult areas of the tax law from a practitioner perspective. We don’t just hurl code sections at you without explanation. Using examples, problems, and plain explanations, we explore a mix of new tax issues and areas of the code that tend to be misunderstood in a practical and straight-forward way. In this session, we will look at partner basis calculations and distributions. We will also look at the substantial economic effect rules, the implications of minimum gains for nonrecourse debt, and constructive liquidation scenarios for recourse debt allocation. What about selling a partnership interest? We will take a look at those look-through provisions, as well as how the gain on the sale of a partnership interest can be both short-term and long-term… at the same time!
*Pricing includes catered lunch, coffee, and refreshments.
Level: Intermediate
Field of Study: Taxes
Who Should Attend: Tax and financial advisors who regularly deal with partnerships and partners
Required Knowledge: Basic understanding of partnership taxation
Advanced Prep: None
Speaker: Peters, David
Details
*Breakfast and lunch are included in the ticket price.*If you have any dietary restrictions, please complete the survey in your registration confirmation email.
Schedule:
• 8:30-8:50am: PPE classroom setup
• 8:50am: Attendee check-in
• 9am-1pm: Lecture (includes 10 minute break)
• 1pm-1:30pm: Catered Lunch
• 1:30pm-4:30pm: Lecture (includes 10 minute break)
• 4:30-5pm: Wrap up and vacate space
The Loading Dock - Beryl Campus
The Dillard Training Room
3915 Beryl Rd., Ste. 130
Raleigh, NC 27607
*Parking is free on site.
Objective
• State the ordering rules for calculating a partner’s tax basis • Calculate the reallocation of items of gains and loss under IRC 704(b) when a qualified income offset is present • Recall the tax effects of contributing assets to a partnership that are encumbered by debt • Describe the key differences between liquidating and non-liquidating distributions • Determine any applicable tax gains and losses of cash and property distributions • State the ordering rules for hybrid distributions that involve both cash and property • Identify the tax implications of a constructive liquidation scenario • Recall the calculation of minimum gains and its effects on nonrecourse debt allocation ©2025 Peters Professional Education, LLC. All Rights Reserved. 1657 W. Broad St. Unit 5 Richmond, VA 23220 • State the tax implications of hot assets in the sale of a partnership interest • Determine the character of a gain on the sale of a partnership interest
Credit Types
- Taxes: 8
Event Speaker(s)
Registration Fees
| Registration | Type | Price |
|---|---|---|
| S0000125 Registration | Members | $250.00 |
| S0000125 Registration | Non Members | $350.00 |
Registration Fees
| Registration | Type | Price |
|---|---|---|
| S0000125 Registration | Members | $250.00 |
| S0000125 Registration | Non Members | $350.00 |
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.