Partnership Property Distributions and the New Form 7217

Overview

This program will address the complex rules for partnership distribution of property with a focus on liquidating of a partner's interest, Section 751 and how to complete the new Form 7217.

Highlights

• Property distributions in liquidation of a partner's interest
• Section 751 and its impact on property distributions from a partnership
• Mechanics of completing Form 7217 - new for 2024
• The Section 754 election and its role in partnership property distributions

Prerequisites

Basic working knowledge of individual and business taxation

Designed For

CPAs and members in industry seeking an in-depth review of partnership property distributions

Objectives

• Implement practical strategies based on a thorough understanding of the complex rules for partnership distributions of property
• Identify and recall key compliance issues
• Identify and recall significant issues in the Form 7217

Preparation

None