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Understanding Partnership and LLC Taxation Webinar


Dec. 12
9:30 a.m. - 5:00 p.m.

CPE Credits



PICPA Member: $245 | Nonmember: $345

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Course No.

This webinar is hosted by PICPA's partner, The California Society of CPAs. After registering, you will receive an email from the California Society with the log-in information.


  • Identify which entities will be taxed as partnerships.
  • Determine the tax consequences of partnership contributions and distributions.
  • Choose among the available taxable years and methods of accounting to determine the consequences of partnership operations.
  • Select the proper method for allocating items of partnership income, gain, loss, deduction and credit.
  • Identify the consequences of partnership recourse and nonrecourse debt.
  • Determine how key tax items are reported on Form 1065 and Schedule K-1.


  • Classification of entities as partnerships
  • Key differences between general partnerships, LPs, LLPs and LLCs
  • Inside and outside basis, and capital accounts
  • Partnerships: Formation, operations, liabilities and allocation of income and loss
  • Distributions
  • Sale or exchange of partnership interests
  • Guaranteed payments
  • Elective and Mandatory Inside Basis Adjustments


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