Form 1065 Reporting and Calculations for Partnership Terminations and Transfers of Interest

Recording of a 110-minute CPE webinar with Q&A


Conducted on Thursday, February 20, 2014

Recorded event now available

or call 1-800-926-7926
Program Materials

This webinar will provide tax return preparers with increased familiarity with the issues involved in transfers of partnership interests, including exchanges, retirement of a partner, gift, contribution or abandonment of a partnership interest, and death of a partner.

Description

For the unprepared, tax treatment of transfer or termination of a partner’s interest in a partnership, triggered by retirement, death, gift, exchange or abandonment, is difficult and confusing. These issues are critical for practitioners who deal with Form 1065.

Return preparers must focus on the tax consequences to the seller resulting from the sale of a partnership interest, treatment of payments to a deceased partner's successor, the partnership, and remaining partners—and the tax effect on a partner who gifts, contributes or abandons their partnership interest.

Listen as our authoritative panel reviews the rules and offers guidance for your work related to partnership terminations. The panel will explain transfers of partnership interests, including retirement of a partner, gift, exchange, contribution or abandonment of a partnership interest, and death of a partner.

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Outline

  1. Termination of partner’s interest
  2. Termination by death or abandonment
  3. Transfer of partner’s interest by gift, exchange, retirement
  4. Issues under Form 1065

Benefits

The panel will review these and other key questions:

  • What complexities do return preparers face in Form 1065 due to a termination or transfer of a partner’s interest in the partnership?
  • What are the key issues concerning the tax consequences to the seller that result upon the sale of a partnership interest?
  • How is character of gain or loss determined upon a transfer?

Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.

Faculty

Robert A.N. Cudd
Robert A.N. Cudd

Senior Partner
Polsinelli

Mr. Cudd advises both domestic and foreign entities on tax-efficient structures as well as on transactions between the...  |  Read More

Joseph K. Fletcher, III
Joseph K. Fletcher, III

Partner
Glaser Weil Fink Howard Avchen & Shapiro

Mr. Fletcher has particular expertise ranging from the taxation of mergers and acquisitions to international taxation...  |  Read More

Wilson, Amanda
Amanda Wilson

Partner
Lowndes Drosdick Doster Kantor & Reed

Ms. Wilson concentrates her practice on federal tax planning and structuring and represents clients in a wide variety...  |  Read More

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