Federal income taxation of partners and partnerships in a nutshell / Karen C. Burke, Professor of Law and Richard B. Stephens Eminent Scholar in Taxation, University of Florida, Levin College of Law.

St. Paul, MN : West Academic Publishing, [2017]

©2017

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Fifth edition.

9781683284352 (electronic bk.)
1683284356 (electronic bk.)
9781634607124 (electronic bk.)
1634607120 (electronic bk.)

1 online resource (xlii, 417 pages)

ocn967724852
(WestAcademic_OCoLC)967724852

aThis book provides a concise overview of federal partnership taxation. It covers partnership formation, including contributions of property and admission of service partners, allocation of income and loss, tax accounting, and sharing of recourse and nonrecourse liabilities. Building on this foundation, the book also addresses advanced topics, including transactions between partners and partnerships, sales of partnership interests, distributions of property, optional and mandatory basis adjustments, and planning for retirement or death of a partner. Numerous concrete examples illustrate the tax treatment of specific transactions, allowing students to grasp the principles of partnership taxation in a problem-oriented course. The revised fifth edition reflects developments through September 2016, including proposed rules relating to compensatory profits interests and fee waivers, contributed built-in loss property, sharing of partnership liabilities and disguised sales, basis adjustments under ʹʹ 734(b), 743(b) and 755, and ʹ 751(b) distributions.

Includes index.

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