This course will be an overview of:

• Partnership taxation concepts, including formation, basis, flow-through of items, allocations, and distributions
• Form 1065 filing requirements
• Form 1065 preparation and reporting requirements, with an emphasis on book-to-tax reconciliations
• Maintaining and reporting capital account balances and the new tax-basis capital account reporting requirement
• Income/loss, expense/deduction, and recourse and nonrecourse debt allocation requirements