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Preparing Partnership Returns E-book (2018) – PDF Version - #E3847

Preparing Partnership Returns E-book (2018) – PDF Version - #E3847

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Overview

Table of Contents.

Description:

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: 2018

Format: Electronic


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