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Preparing Partnership Returns E-book (2019) – PDF Version - #E3947

Preparing Partnership Returns E-book (2019) – PDF Version - #E3947

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Table of Contents.


Tax professionals find this textbook is just what they need to expand their tax practice by preparing partnership returns. It covers the basics of partnership taxation and completing a partnership return with accompanying schedules. Tax professionals also learn how to track partners’ basis in the partnership and the impact of partnership distributions.

Preparing Partnership Returns covers:

  • The advantages and disadvantages of forming a partnership.
  • Tax consequences of forming a partnership, including contributions of property or services.
  • Analyzing a partnership agreement and profit/loss allocations.
  • Completing a basic Form 1065, including Schedules K, K-1, L, M-1 and M-2.
  • Correctly reporting fringe benefits for partners, guaranteed payments, and separately stated items.
  • Computing partnership net earnings (losses) from self-employment.
  • Items that increase or decrease partnership basis.
  • Computing a partner’s end-of-year basis in a partnership.
  • Determining which liabilities increase a partner’s at-risk basis.
  • Analyzing distributions from a partnership for tax reporting.

Product Details:

Level: Basic level

Author: NATP Staff

Publisher: NATP

Publication Date: 2019

Format: Electronic

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