Partnership Terminations: Sale or Abandonment of an Interest, Retirement or Death of Partner, and Closing the Entity
Recording of a 110-minute CPE webinar with Q&A
This course will provide tax return preparers with increased familiarity with the issues involved in transfers of partnership interests, including exchanges; the retirement of a partner; gift, contribution, or abandonment of a partnership interest; and the death of a partner.
Outline
- Repeal of technical terminations
- Death of a partner
- Retirement
- Other liquidating distributions
- Effect of termination on partnership audits
- Transfers of an interest
- Sale
- Gift
- Abandonment
- Cessation of business
- Forms and elections
Benefits
The panel will review these and other vital questions:
- How are "hot assets" taxed when received?
- How is the gain or loss on the transfer calculated and taxed?
- How are the books adjusted on the death of a partner?
- What forms and elections should be made or considered?
Faculty
Joseph C. Mandarino
Partner
Smith Gambrell & Russell
Mr. Mandarino's practice focuses on corporate, tax and finance law. He is involved with a wide variety of... | Read More
Mr. Mandarino's practice focuses on corporate, tax and finance law. He is involved with a wide variety of businesses and transactions, including experience with compliance, planning and M&A activities for partnerships, individuals and corporations. Mr. Mandarino’s practice also includes representation in tax controversy work. He writes and speaks extensively on a wide range of business, tax and finance topics.
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Faye Tannenbaum, CPA
Partner
Mazars USA
Ms. Tannenbaum has over 28 years of experience providing tax compliance and consulting services to some of the largest... | Read More
Ms. Tannenbaum has over 28 years of experience providing tax compliance and consulting services to some of the largest entities operating within the United States, including private equity companies, banks, broker-dealers and investment management entities.
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