Partnership tax law is always difficult. However, when certain transactions come up, not knowing how to handle them can be costly to clients and practitioners.
This course features a live instructor and has been specifically designed for the NJCPA.
DESIGNED FOR
Tax and financial advisors who have partnership clients
BENEFITS
- Identify when a pass-through entity is able to deduct state taxes it pays at the entity level
- Recognize the tax implications of hot assets in the sale of a partnership interest
- State the character of a gain on the sale of a partnership interest
HIGHLIGHTS
- Notice 2020-75: PTE elections
- What is a 754 election?
- What if a 754 election is not in effect?
- Tax implications of a partnership interest sale on the seller
- Look-through provisions
PREREQUISITES
Basic understanding of tax rules for flow-through entities
ADVANCE PREPARATION
None
ADDITIONAL NOTES