Partnership Tax Guide

Navigate complex partnership tax rules by applying a clear, structured framework. This course explains the essential provisions governing the formation, operation, and liquidation of partnerships, and then analyzes critical topics such as basis calculations, sales of partnership interests, terminations, income and expense allocations, disguised sales, and anti-abuse rules. By focusing on the core technical requirements, the course equips you to manage partnership taxation issues accurately and efficiently.
Format

PDF Course

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Duration

2 Hours

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Course Information

Author: Steven Bragg
Course Number: TX1029
IRS Program Number: 72821-T-00096-25-S

Learning Objectives
  • Recognize the requirements for the partners in a partnership.
  • Identify the tax rules pertaining to contributions to a partnership.
  • Specify how the economic substance doctrine applies to partnerships.
  • Recognize the tax implications of the various types of basis in a partnership.
  • State the tax outcomes associated with the sale of a partnership interest.
  • Specify the partnership elections that can impact the reported amount of taxable income.
  • Identify the tax issues pertaining to the expenses that a partnership may recognize.
  • Recognize the circumstances in which the revaluation of partnership assets would be appropriate.

Level: Overview
Instructional Method: QAS Self-Study
NASBA Category: Taxes
Prerequisites: None
Advance Preparation: None
Latest Review Date: August 2025
Program Registration Requirements: Click on the Enroll button to pay for and access the course. You will then be able to download the course as a PDF file, then take an on-line examination, and then download a certificate of completion if you pass the examination.
Program Refund Policy: For more information regarding administrative policies concerning complaints, refunds, and other matters, see our policies page.

AccountingTools, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have the final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
The NASBA sponsor identification number for Accountingtools, Inc. is 115881.

AccountingTools is an IRS Approved Continuing Education Provider. We are compliant with the requirements for continuing education providers (as described in sections 10.6 and 10.9 of the Department of Treasury’s Circular No. 230 and in other IRS guidance, forms, and instructions). Our IRS Approved Continuing Education Provider number is 72821.