Courses 2009 - 2010
LAW T 511 Taxation Of Partners And Partnerships
Credits: 1-4, Max 4
Tax treatment of partners and partnerships including problems associated with the formation, operation, and dissolution of the partnership, the sale of partnership interests, and the termination, retirement, and death of partner. Issues include definition of a partnership, income allocation problems, liability basis rules, application of the at-risk and passive activity rules, and approaches to the drafting of partnership agreements.