Partnership Terminations
Description
Participants will learn how the Tax Cuts and Jobs Act significantly changed and simplified the rules on tax terminations. Even though the rules have been simplified, issues that remain include the tax termination of a two-person partnership, what to do with the expenses of redrafting the operating agreement, and the effect of merging one LLC into another LLC.
Highlights
LINK AND INSTRUCTION TO COME AES TAX ONE DAY PRIOR TO SESSION
Objectives
After completing this course the participant will be able to:
- Discuss the tax effect of the Tax Cuts and Jobs Act on partnership terminations.
- Describe the tax effect on a partnership where there is death or retirement, sale, gift, transfer, contribution, or distribution.
- Distinguish between a state law termination and a tax termination.
- Determine when a two-person partnership terminates and the effect of Rev. Rul. 99-6.
- Describe the difference in a tax termination in 1977, in 2017, and in 2026.
- Apply the varying interest rule under §706(d) to a sale or exchange.
- Discuss the treatment of the expenses in redrafting the operating agreement after a transfer or a redemption.
- Describe the tax effect on the death of a partner and the three possible ways that the interest may be transferred.
Course Pricing
|
Early Registration Member Fee
Applicable if you are a HSCPA member in good standing and register by August 25, 2026. |
$85.00 |
|---|---|
|
Member Fee
Applicable if you are a HSCPA member in good standing. |
$150.00 |
|
Early Registration Non-Member Fee
Applicable if you are not a HSCPA and register by August 25, 2026. |
$150.00 |
|
Non-Member Fee
Applicable if you are not a HSCPA member. |
$215.00 |
| Your Price | $150.00 |
