Partnership Tax Basis and Distribution Challenges for Counsel and Advisors
Navigating Complex Distribution Rules and Impact of Sections 731-737, 751(b) and 755
Recording of a 110-minute CLE/CPE webinar with Q&A
This teleconference will provide tax practitioners with an in-depth review of the rules for partnership basis adjustments and distributions under Code sections 731 through 737, 751(b) and 755. The panel will also outline how to avoid taxable pitfalls in applying the rules to partnership transactions.
- Types of distributions resulting from a partnership
- Section 731 on gain or loss recognition
- Section 732 on partner's basis of property received
- Section 733 on partner's remaining basis
- Section 734 on adjustment to basis
- Section 751(b) property
- Section 755 allocation of basis
The panel will review these and other key questions:
- How do you determine when basis of property received exceeds the partnership interest's outside basis?
- What are the circumstances under which utilizing section 732 makes the most sense?
- What potential pitfalls exist in section 751(b) and what are best practices for handling these pitfalls?
- What practical issues arise with special basis adjustments under section 755 caused by installment sales and modified depreciation on stepped-up assets?
Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.
Mr. Lencz focuses his practice on a broad range of international, federal, state and local tax matters. He advises... | Read More
Mr. Lencz focuses his practice on a broad range of international, federal, state and local tax matters. He advises clients on tax issues relating to corporations, partnerships, limited liability companies, joint ventures, REITs and RICs; tax-free and taxable mergers, acquisitions and spin-offs; compensation planning; installment sales and like-kind exchanges; and real estate development and investment.Close
Christopher S. Davidson
Mr. Davidson's a Member of the firm’s Tax and Wealth Planning Group. He advises clients on a wide range... | Read More
Mr. Davidson's a Member of the firm’s Tax and Wealth Planning Group. He advises clients on a wide range of tax issues in the areas of corporate, partnership, international and individual income tax. His main focus is on foreign and domestic matters for partnerships, limited liability companies, and corporations.Close