Typically, a partner will receive capital gains or losses from the disposition of his partnership interest. If a partnership has "hot assets", when a partner disposes of his interest in the entity, the partner will have ordinary income instead of capital gain income. We will look at how to identify IRC 751 issues and how to properly record any gains or losses from the disposition of the partnership interest.
Presented by Nicholas Preusch, CPA
IRS CE: 2 Hours/Federal Tax LawNASBA CE: 2 Hours/Taxes
NSA ConnectED Webinar Series Program Level: Basic Prerequisites: None Advance Preparation: None Delivery Method: Group-Internet Based
No refunds or exchanges for cancellations. For more information regarding refund, complaint and/or program cancellation policies, please contact NSA toll-free at 800-966-6679.
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