TAX 531 PARTNERSHIP AND LLC TAXATION

This course examines the federal income tax treatment of partnerships and partners. Students study partnership formation; problems of partnership operation including distributions; sales and exchanges of partnership interests; partnership terminations and liquidations; special basis adjustments; and the role of partnership as investment vehicles. The treatment of limited liability companies and limited liability partnerships are also examined. Students will be required to prepare a Form 1065.

Credits

Prerequisite

TAX 596 and 599. (TAX 507 and TAX 509 recommended)

Distribution

TAXATION