Andy Immerman was a featured speaker during this webinar program sponsored by Strafford. Generally, Internal Revenue Code rules aim for partnership distributions to be treated as non-taxable events. However, exceptions to those rules can quickly turn distributions taxable. That is where tax advisors and managers feel the pain of the terms of Sections 731 through 737, 751(b) and 755.
Section 751(b) can be deceptively complicated, as examples in the regs can prove oversimplified relative to real-life scenarios. However, understanding it is vital because it provides the foundation to tax transfers of partnership interests. Section 737 also poses various tax challenges for tax pros.
Section 731 is key to understanding whether a disguised sale overrides partnership distribution rules to make the optimal decision on the tax status of a distribution. Tax advisors working with partnership basis and distributions must be able to navigate all of these Code Sections.
This panel explained the material terms of Sections 731 through 737, 751(b) and 755 and explored common taxpayer scenarios involving partnership distributions and basis adjustments.
September 9, 2014
Section 751(b) can be deceptively complicated, as examples in the regs can prove oversimplified relative to real-life scenarios. However, understanding it is vital because it provides the foundation to tax transfers of partnership interests. Section 737 also poses various tax challenges for tax pros.
Section 731 is key to understanding whether a disguised sale overrides partnership distribution rules to make the optimal decision on the tax status of a distribution. Tax advisors working with partnership basis and distributions must be able to navigate all of these Code Sections.
This panel explained the material terms of Sections 731 through 737, 751(b) and 755 and explored common taxpayer scenarios involving partnership distributions and basis adjustments.
September 9, 2014