Prerequisite: Introduction to Federal Income Tax

Federal income taxation of partnerships and their partners, limited liability companies that are taxed as partnerships and Subchapter S corporations that are taxed in a similar manner. Topics include entity classification, the formation and structuring of partnerships, partnership operations and distributions, the allocation of partnership income and deductions among partners, the acquisition and disposition of partnership interests and the liquidation of partnerships. Partnership Taxation is designed for both tax and non-tax students