Discussion - 3 hours. A great number of businesses utilize the partnership structure, including closely-held operating businesses, most investment entities, including private equity, venture capital, real estate and hedge funds, and publicly-traded master limited partnerships. This course constitutes a study of the federal income tax treatment of partnerships and partners (including entities classified as partnerships). The issues to be addressed include the treatment of contributions to and distributions from partnerships, the manner in which income and loss items can be allocated among the partners, the treatment of transfers of partnership interests, the taxation of carried interests, terminations, sharing of liabilities and special basis adjustments.Prerequisite: 220 Federal Income Taxation.
Final Assessment: Exam