Federal Income Taxation of Partners and Partnerships in a Nutshell (Nutshells)

This comprehensive guide to federal partnership taxation provides a detailed overview of partnership formation, allocation of income and loss, tax accounting, and sharing of recourse and nonrecourse liabilities.

The book also covers advanced topics such as transactions between partners and partnerships, sales of partnership interests, distributions of property, optional and mandatory basis adjustments, and planning for retirement or death of a partner.

With numerous concrete examples illustrating the tax treatment of specific transactions, this book is an essential resource for anyone looking to gain a deeper understanding of partnership taxation.

The revised sixth edition reflects major tax legislation enacted in 2017 (the “2017 Act”), including choice of entity issues in light of the new 21% corporate tax rate and the § 199A passthrough deduction, making it a must-have for anyone looking to stay up-to-date on the latest developments in partnership taxation.