Advanced Tax Strategies for LLCs and Partnerships. Larry Tunnell

      

      Table of Contents

      1  Cover

      2  Chapter 1: Allocation of Partnership and LLC Income Under Section 704(b) Economic effect: The general test Deemed economic effect Alternate test for economic effect Substantiality Denied allocations: Determining the partners’ or LLC members’ interests in the entity Other issues Allocation of deductions attributable to nonrecourse debt Summary Notes

      3  Chapter 2: Allocations With Respect to Contributed Property: Section 704(c)(1)(A) The traditional method The traditional method with curative allocations The remedial allocations method Special rules Summary Notes

      4  Chapter 3: Allocation of Partnership Recourse Liabilities Under Section 752 How liabilities affect partner tax consequences Allocation of liabilities among the partners: In general Allocation of recourse liabilities Notes

      5  Chapter 4: Allocation of Partnership Nonrecourse Liabilities and Related Deductions Under Sections 752 and 704(b) Distinguishing between recourse and nonrecourse liabilities Allocation of nonrecourse debts Treatment of contingent liabilities Notes

      6  Chapter 5: Advanced Distribution Rules Non-liquidating distributions generally Distribution of multiple properties Summary Notes

      7  Chapter 6: Adjustments to the Basis of Partnership or LLC Assets Section 743: Adjustments following the transfer of a partnership interest Distributions of partnership property Allocating the adjustment amount among partnership properties Notes

      8  Chapter 7: Sale of an Interest in a Partnership or LLC General tax consequences associated with sale “Hot” assets and Section 751(a) Collectibles and unrecaptured Section 1250 gain Installment sales Net investment income tax Sale of an active (non-passive) interest in a partnership or LLC Sale of a passive interest in a partnership or LLC Purchaser of a partnership interest Notes

      9  Tax Glossary

      10  Index

      11  Solutions Chapter 1 Chapter 2 Chapter 3 Chapter 4 Chapter 5 Chapter 6 Chapter 7

      12  End User License Agreement

      Guide

      1  Cover

      2 Table of Contents

      3  Begin Reading

      Pages

      1  i

      2  ii

      3  1-1

      4  1-2

      5  1-3

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