Understanding Partnership and LLC Taxation

Based on his treatise Tax Planning for Partners, Partnerships, and LLCs, the author offers a comprehensive analysis of one of the most complex and confusing areas of the Internal Revenue Code. Using examples and computational illustrations, this Understanding treatise is designed for ease of use by law students. In addition to clear, to-the-point explanations of law, Understanding Partnership and LLC Taxation includes practice and planning notes plus extensive citation to relevant cases, statutes, and regulations, thereby making it also an excellent quick reference for practitioners. Among the topics covered are the tax consequences of:

•  Determining the business form to adopt;

•  Allocating income or loss among partners or LLC members;

•  Distributing property to a partner or LLC member;

•  Using family partnerships and LLCs; and

•  Selling or liquidating a partnership or LLC interest.