Understanding partnership and LLC taxation /

"The fifth edition updates the text to discuss important recent legislation, regulations and cases affecting partnerships. The new partnership audit, assessment and collection rules enacted by the Bipartisan Budget Act of 2015 are discussed as well as the associated tax planning. The update des...

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Bibliographic Details
Main Author: Friedland, Jerold A. (Author)
Format: Book
Published: Durham, North Carolina : Carolina Academic Press, LLC, 2022
Edition:5th ed.
Series:Carolina academic press understanding series
Understanding series
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Table of Contents:
  • Introduction to taxation of partnerships and limited liability companies
  • Tax classification of economic relationships
  • Tax accounting for partnerships and limited liability companies
  • Acquiring a partnership or LLC interest by contribution
  • Basis in partnership/LLC interest
  • Distributive shares
  • Transactions between partners/members and partnership/LLC
  • Distributing partnership/LLC property to partners or members
  • Family partnerships and limited liability companies
  • Liquidating payments to a retiring partner/member or a decedent's successor
  • When a partner or LLC member dies
  • Selling or exchanging a partnership or LLC interest
  • Terminating as partnership or LLC.