Partnership Tax Allocations under Sections 704(b) and 704(c) (Currently Unavailable)
Author: James R. Hamill
| CPE Credit: |
2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC |
Partnership Tax Allocations under Sections 704(b) and 704(c), covers the essential rules and issues for partnership tax allocations. It presents an in-depth analysis of partnership allocations, including how to structure "special allocations" and how to make required Section 704(c) and "reverse" Section 704(c) allocations, and more.
Publication Date: June 2016
Designed For
Tax practitioners
Topics Covered
- Sections 704(b) and 704(c)
- Special allocations
- Substantial Economic Effect
- Target allocation
- SEE test
- Capital Account Maintenance Rules
Learning Objectives
- Identify when allocations will be respected under the partner's interest test or substantial economic effect.
- Determine when Sections 704 (b) and (c) apply and how to allocate such items.
Level
Intermediate
Instructional Method
Self-Study
NASBA Field of Study
Taxes (2 hours)
Program Prerequisites
A basic understanding of partnership tax allocations.
Advance Preparation
None
