Catalogue 2019 - 2020

LLMC 865 Income Tax of Llc



Course Description

This course focuses on the income tax treatment of partnerships and limited liability companies. Areas of study will include the formation of a partnership; basis of partnership interests and assets; effect of liabilities of basis; allocation of income and deductions. Topics will also include the termination of partnerships; family partnerships; sales and exchanges of partnership interests; liquidating and non-liquidating distributions; death of a partner and retirement of a partner.