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Partnership taxation

About this topic

Based on the AICPA Competency Framework: Tax and Personal Financial Planning, these learning resources - primarily focused on US tax - are designed to help CPAs understand the knowledge and skills necessary to address the needs of their clients and firms.

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Sec. 743(b) adjustment complications in multitier partnerships

Sec. 743(b) adjustments are complex, and multitier partnership structures only exacerbate that complexity. See an illustration of applying the Sec. 743(b) adjustments.

Article Contributions, distributions & basis Intermediate

New Tax Return Due Dates

In this video, AICPA tax staff walk through key changes in tax return due dates and offer tips for preparing your practice.

Video Reporting & filing requirements Intermediate

U.S. exporters leaving tax dollars on the table

​This article describes how IC-DISCs can enable companies that are qualified exporters in the United States to lower their taxes significantly.

Article Formation, transfers & termination Intermediate

Violating Certain “Bad Boy” Guarantees Can Trigger Recourse Liabilities

This article examines whether a bad-boy guarantee changes an otherwise nonrecourse liability to a recourse liability.

Article Partnership taxation Intermediate

Partnership Audit Rules for the Next Decade

This article analyzes new rules regarding the audit procedures for partnerships and describes important elections partnerships may make.

Article Reporting & filing requirements Intermediate

Issue Spotlight: Electing Out of the BBA Partnership Rules

Some partnerships may be able to elect out of the new partnership rules, and this short article discusses that ability.

Article Reporting & filing requirements Intermediate

Sec. 304 and Rev. Rul. 99-6: Fitting a Triangular Peg in a Round Hole

This article examines the potential application of Sec. 304 to transfers of interests in a partnership that owns corporate stock.

Article Partnership taxation Intermediate

New Jersey’s Sourcing Rule for Gain on Dispositions of Interests in Flowthrough Entities Can Be a Real Deal-Killer

The private-equity group (PEG) space has become inundated with state income tax issues and traps for the unwary. This article illustrates this type of situation.

Article State & local tax (SALT) Intermediate

What to do when a client wants to give an LLC or limited partnership unit to charity

This article presents some important considerations the client should take into account before giving and LLC or limited partnership unit to charity.

Article Charitable gifts Intermediate

Deducting Business Bad Debts

Planning that maximizes the business bad debt deduction can help minimize the taxpayer’s overall economic loss.

Case Study Partnership taxation Foundational

Current Developments in Partners and Partnerships

This article discusses developments in income allocations, disguised sales, partnership distributions, terminations, and basis adjustments.

Article Partnership taxation Foundational

Taxation of Worthless and Abandoned Partnership Interests

This article discusses the tax treatment of worthless or abandoned stock and partnership interests.

Article Income Intermediate