Preparing Partnership Returns Self-Study

Summary

This course is perfect for tax professionals who want to learn how to prepare Form 1065, U.S. Return of Partnership Income. Not only does this course cover the basics of partnership taxation, but it also covers the step-by-step process of completing a partnership return and the accompanying schedules. An example will be utilized throughout the course to illustrate key concepts, and the material will include a completed partnership return.

Objectives

Upon completion of this course, you will be able to:

• Summarize the advantages and disadvantages of forming a partnership
• Describe the tax consequences of contributing property or services when a partnership is formed
• Explain how various items are reported on the partnership return and allocated among the partners
• Define how the different types of partnership debt are allocated among the partners
• Identify partnership items that must be separately stated

Course Details

This course includes an e-book and exam questions to help you earn CPE. CPE is issued after the exam is successfully completed.