Most practitioners deal with Form 1065, U.S. Return of Partnership Income, on a regular basis. This program addresses distributions, including recognition of gain, distributions of property and securities treated as money, loss on distribution, sales of contributed property, distributions of property to a contributing or noncontributing partner, liquidating distributions, allocation of basis increases or decreases, the special basis adjustment under IRC Sec. 732(d), disproportionate distributions, and mandatory basis adjustments. <br/><br/>By proceeding to the examination, you acknowledge and confirm that you have completed the required coursework.