Partnership Income Taxation

This handbook examines partnership tax laws, enabling readers to easily understand specific provisions within a larger context. Some of the topics covered include what constitutes a partnership; partnerships vs. corporations; partnership vs. co-ownership of property; the pass-through principle of partnership taxation; an introduction to partnership debt; allocations of partnership income; transactions between partnerships and their partners; sales of partnership interests; partnership distributions; payments to retiring partners; and the death of a partner.Summary of Contents" Chapter1. The Pass-Through Principle of Partnership Taxation2. An Introduction to Partnership Basis and Limits on Losses3. Contributions to Partnerships4. Allocations of Partnership Income, Deductions, and Credits: An Introduction5. Allocations Attributable to Contributed Property: Section 704(c)6. Partnership Allocations: Assignments-of-Income Problems7. Allocation of Partnership Debt8. Transactions between Partnerships and Their Partners9. Sales of Partnership Interests10. Partnership Distributions: An Introduction11. Distributions Subject to Section 751(b)12. Payments to Retiring Partners: Section 736 and Related Problems13. Basis Adjustments under Section 73414. The Death of a Partner15. What is a Partnership?