Prerequisites: Taxation or permission of the instructor to waive the prerequisite.
Exam Type: In Class
This class covers the formation, operation, and liquidation of all entities taxable as partnerships including general partnership, limited partnerships, and LLCs. Distributive shares as determined under sections 704(b) and 704(c) are emphasized along with allocations of partnership indebtedness and optional inside basis adjustments. This is an important course for students interested in a career in tax law or in real estate.
The textbook is Doernberg, Abrams & Leatherman, Federal Income Taxation of Corporations and Partnerships (6th ed. 2019).