Prerequisites: Taxation or permission of the instructor to waive the prerequisite.
Exam Type: Please refer to the Fall 2020 Tentative Exam Schedule
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.
Abrams and Leatherman, Federal Income Taxation of Corporations and Partnerships (6th ed 2019) as well as a post -2017 copy of selected provisions of the Internal Revenue Code and Income Tax Regulations.