Presents an overview of subchapter K and the federal income tax treatment of partnerships and other entities, such as limited liability companies;. Topics include tax classification of a partnership versus a corporation or trust; considerations in choice of entity; basic partnership accounting and capital accounts, partnership formation and acquisition of partnership interests for property or services; determination of basis; basic rules allocations of income and loss; taxation of normal partnership operations; distributions of cash and property; transactions between partners and partnership, including sales of partnership interests. Prerequisite or corequisite: Federal Income Taxation I and II, Introduction to Corporate Tax. JD students are not permitted to enroll in the online section of any tax courses without receiving prior approval from the Assistant Dean for Graduate, International, and Online programs.

Note that this information may change at any time. Please visit the MyBU Student Portal for the most up-to-date course information.