Most practitioners deal with Form 1065, U.S. Return of Partnership Income, on a regular basis. This program examines partnership terminations, including statutory termination, mergers, consolidations, and divisions, and the two methods of accomplishing termination the assets-over and assets-up formats. It also explores transfers of partnership interests, including exchanges, retirement of a partner, gift or contribution of a partnership interest, abandonment of a partnership interest, and death of a partner.

By proceeding to the examination, you acknowledge and confirm that you have completed the required coursework.