A comprehensive guide to estate planning and the taxation of trusts.
Learning Objectives
- Learning Outcomes
- Identify the mechanics of a partnership’s tax return, including partner capital account calculations and permissible tax years.
- Determine the proper allocation of recourse liabilities among partners.
- Analyze the consequences of a new partner joining a partnership.
- Determine depreciation expense among the contributing and noncontributing partners under Section 704(c).
- Determine the value of assets with nonrecourse liabilities.
