Partnership Tax Filing Issues

Author: James R. Hamill

Per the IRS Education Provider Standards this course must be COMPLETED by 12/31/2026 to receive credits. NOTE: Go to My Professional Profile in your CCH CPELink account settings to ensure your name, and PTIN number; matches your PTIN card

Practitioners often encounter partnership tax filing issues regardless of their area of specialty. Increased information reporting and the complex nature of partnership tax transactions make compliance with the filing requirements particularly challenging. This two-hour CPE course will help you approach these returns with confidence.

Nationally recognized tax practitioner, instructor and commentator, James Hamill, CPA, Ph.D., will provide a practical review of the issues that most commonly arise in preparing partnership tax returns. Dr. Hamill will also address how to tackle partnership tax return complexities during the extended filing season.

Publication Date: March 2024

Designed For
CPAs, EAs, tax preparers and other tax professionals with responsibility for reviewing partnership and LLC tax returns and planning for partnership tax entities.

Topics Covered

• Forms and Schedules
• Allocations of Profit and Loss
• Partner Shares of Debt
• Entity-Level Elections
• Centralized Audit Issues
• Capital Account Reporting
• Unrecognized Section 704(c) Reporting
• Distributions
• Guaranteed Payments

Learning Objectives

• Describe essential reporting issues and obligations in partnership taxation
• Identify planning opportunities with partnership tax returns
• Recognize how to apply best practices for preparing partnership returns
• Identify correct statements with respect to guaranteed payments
• Describe capital account reporting
• Describe characteristics of K-1s

Level
Intermediate

Instructional Method
Self-Study

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
Basic experience with partnership tax returns.

Advance Preparation
None