Description:

This book is for preparing 2022 taxes. It's perfect for tax professionals who want to begin learning how to prepare Form 1065, U.S. Return of Partnership Income. Not only does it cover the basics of partnership taxation, it also covers the step-by-step process of completing a partnership return and the accompanying schedules, tracking the partner’s basis and finishes with a comprehensive case study. This textbook provides an understanding of the tax consequences of distributions from a partnership.

View Table of Contents.

Topics include:

• Summarizing the tax consequences of forming a partnership, including contributions of property or services
• Analyzing a partnership agreement and profit/loss allocations
• Choosing a tax year and accounting method for the partnership
• Preparing a basic Form 1065, including Schedules K, K-1, L, M-1 and M-2
• Summarizing how to report guaranteed payments, fringe benefits and separately stated items for partners
• Recognizing items that increase or decrease a partner’s basis in the partnership
• Identifying which liabilities increase a partner’s at-risk basis
• Analyzing the tax consequences of distributions from a partnership

Product Details:

Item Number: E22329

Level: Basic

Authors: NATP Staff

Published: 2022

Format: Electronic PDF - 232 Pages

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Corresponding CPE Courses:

Get this e-book FREE when you purchase the 2022 corresponding course when available.

Purchase Info:

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