{"product_id":"advanced-tax-strategies-for-llcs-and-partnerships-isbn-9781119748731","title":"Advanced Tax Strategies for LLCs and Partnerships","description":"\u003cp\u003eAre you ready to master the advanced concepts of partnership taxation? Provide your clients with valuable advice and tax planning strategies and gain a working knowledge of the Internal Revenue Code's sophisticated partnership tax rules and regulations. This book takes a deep dive into the complexities of partnership tax law. It includes step-by-step examples to help guide you through the complicated world of advanced partnership and LLC tax law.\u003c\/p\u003e \u003cp\u003eSome of the many concepts covered in this course include special allocations, liquidating and non-liquidation distributions, property basis calculations under various scenarios, and sales of a partnership interest.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1 1-1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAllocation of Partnership and LLC Income Under Section 704(b) 1-1\u003c\/p\u003e \u003cp\u003eEconomic effect: The general test 1-3\u003c\/p\u003e \u003cp\u003eDeemed economic effect 1-12\u003c\/p\u003e \u003cp\u003eAlternate test for economic effect 1-13\u003c\/p\u003e \u003cp\u003eSubstantiality 1-17\u003c\/p\u003e \u003cp\u003eDenied allocations: Determining the partners’ or LLC members’ interests in the entity 1-22\u003c\/p\u003e \u003cp\u003eOther issues 1-25\u003c\/p\u003e \u003cp\u003eAllocation of deductions attributable to nonrecourse debt 1-30\u003c\/p\u003e \u003cp\u003eSummary 1-35\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2 2-1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAllocations With Respect to Contributed Property: Section 704(c)(1)(A) 2-1\u003c\/p\u003e \u003cp\u003eThe traditional method 2-4\u003c\/p\u003e \u003cp\u003eThe traditional method with curative allocations 2-12\u003c\/p\u003e \u003cp\u003eThe remedial allocations method 2-15\u003c\/p\u003e \u003cp\u003eSpecial rules 2-19\u003c\/p\u003e \u003cp\u003eSummary 2-22\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3 3-1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAllocation of Partnership Recourse Liabilities Under Section 752 3-1\u003c\/p\u003e \u003cp\u003eHow liabilities affect partner tax consequences 3-2\u003c\/p\u003e \u003cp\u003eAllocation of liabilities among the partners: In general 3-12\u003c\/p\u003e \u003cp\u003eAllocation of recourse liabilities 3-15\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4 4-1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAllocation of Partnership Nonrecourse Liabilities and Related Deductions Under Sections 752 and 704(b) 4-1\u003c\/p\u003e \u003cp\u003eDistinguishing between recourse and nonrecourse liabilities 4-2\u003c\/p\u003e \u003cp\u003eAllocation of nonrecourse debts 4-7\u003c\/p\u003e \u003cp\u003eTreatment of contingent liabilities 4-15\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5 5-1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAdvanced Distribution Rules 5-1\u003c\/p\u003e \u003cp\u003eNon-liquidating distributions generally 5-2\u003c\/p\u003e \u003cp\u003eDistribution of multiple properties 5-7\u003c\/p\u003e \u003cp\u003eSummary 5-18\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6 6-1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAdjustments to the Basis of Partnership or LLC Assets 6-1\u003c\/p\u003e \u003cp\u003eSection 743: Adjustments following the transfer of a partnership interest 6-3\u003c\/p\u003e \u003cp\u003eDistributions of partnership property 6-6\u003c\/p\u003e \u003cp\u003eAllocating the adjustment amount among partnership properties 6-15\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7 7-1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSale of an Interest in a Partnership or LLC 7-1\u003c\/p\u003e \u003cp\u003eGeneral tax consequences associated with sale 7-2\u003c\/p\u003e \u003cp\u003e“Hot” assets and Section 751(a) 7-7\u003c\/p\u003e \u003cp\u003eCollectibles and unrecaptured Section 1250 gain 7-12\u003c\/p\u003e \u003cp\u003eInstallment sales 7-14\u003c\/p\u003e \u003cp\u003eNet investment income tax 7-16\u003c\/p\u003e \u003cp\u003eSale of an active (non-passive) interest in a partnership or LLC 7-17\u003c\/p\u003e \u003cp\u003eSale of a passive interest in a partnership or LLC 7-19\u003c\/p\u003e \u003cp\u003ePurchaser of a partnership interest 7-20\u003c\/p\u003e \u003cp\u003eGlossary Glossary 1\u003c\/p\u003e \u003cp\u003eIndex Index 1\u003c\/p\u003e \u003cp\u003e\u003cb\u003eSolutions Solutions 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChapter 1 Solutions 1\u003c\/p\u003e \u003cp\u003eChapter 2 Solutions 3\u003c\/p\u003e \u003cp\u003eChapter 3 Solutions 4\u003c\/p\u003e \u003cp\u003eChapter 4 Solutions 6\u003c\/p\u003e \u003cp\u003eChapter 5 Solutions 8\u003c\/p\u003e \u003cp\u003eChapter 6 Solutions 10\u003c\/p\u003e \u003cp\u003eChapter 7 Solutions 12\u003c\/p\u003e \u003cp\u003e\u003cb\u003eLarry Tunnell,\u003c\/b\u003e Ph.D., CPA, is a professor in the accounting department at New Mexico State Univeristy.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eRobert Ricketts,\u003c\/b\u003e Ph.D., CPA, is the Frank M. Burke Chair in Taxation, Department Head of Accounting at the Rawls College of Business, Texas Tech University. He has written numerous books on the taxation of partnerships and limited liability companies.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47988670791909,"sku":"NP9781119748731","price":170.5,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781119748731.jpg?v=1761781199","url":"https:\/\/k12savings.com\/products\/advanced-tax-strategies-for-llcs-and-partnerships-isbn-9781119748731","provider":"K12savings","version":"1.0","type":"link"}