Taxable Partnership Distributions: Anticipating and Mitigating Tax Consequences to Partners and Members
Distributions in Excess of Basis, Disguised Sales, Distributing Precontribution Gain Assets, Payment of Debt
Note: CLE credit is not offered on this program
Recording of a 110-minute CPE webinar with Q&A
This webinar will review situations when partnership distributions create taxable income. The panelist will discuss distributions in excess of basis, disguised sales, and distributions of specific assets that result in taxable income to partners and members.
Outline
- Taxable partnership distributions: introduction
- Distributions in excess of basis
- Reduction in partnership liabilities
- Disguised sales
- Distributions of previously contributed property
- Disproportionate distributions
- Distributions of unrealized receivables and appreciated inventory
- Other considerations
Benefits
The speaker will cover these and other critical issues:
- How a reduction in partnership liabilities impacts a partner's basis
- Distributions of assets that are considered disguised sales
- Recognition of precontribution gain on property distributions
- Recommendations to circumvent unanticipated tax liability from distributions to partners
Faculty
Jeffrey Clayman, CPA, JD, LLM
Tax Senior Director
Alvarez & Marsal
Mr. Clayman has over 18 years of public accounting experience with a focus on for-profit businesses in many different... | Read More
Mr. Clayman has over 18 years of public accounting experience with a focus on for-profit businesses in many different industries. He has expertise in federal reporting and compliance for c-corporations, s-corporations, partnerships and limited liability companies. Mr. Clayman is highly experienced in analyzing all types of transactional documents, purchase and sale agreements, debt instruments, corporate documents and partnership agreements.
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