Federal Taxation of Partnerships and Partners

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Authored by renowned expert practitioners in the field of partnership taxation and planning, Federal Taxation of Partnerships and Partners, Fourth Edition, is the source for clear, accurate, and comprehensive analysis of the rules governing U.S. income taxation of transactions involving partners and partnerships.

Cited and relied upon by the federal courts in more than 70 decisions and the IRS in more than 40 rulings, this Treatise provides:

• The most up-to-date, comprehensive coverage of the tax rules applicable to partnerships and their partners (and to limited liability companies and their members)


• Strategic advice on how to apply these rules to achieve the best tax results


• In-depth explanations of the partnership tax rules along with sophisticated planning strategies, all organized in a transactional format that tracks the various stages of partnership activities through the partnership life cycle (formation, operations, mergers, and liquidations)


• Numerous examples and illustrations that apply extremely complex tax rules to real life situations


• Frequent supplementation that arms subscribers with the most current guidance and innovative strategies in the partnership tax area

• McKee, Nelson & Whitmire: Federal Taxation of Partnerships and Partners
  • Part I General Concepts
    • Chapter 1: An Overview of Subchapter K
    • Chapter 2: Selection of the Form of Business Organization
    • Chapter 3: Defining “Partnerships” and “Partners” for Tax Purposes
  • Part II Acquisitions of Partnership Interests
    • Chapter 4: Receipt of a Partnership Interest in Exchange for a Contribution of Property
    • Chapter 5: Transfer of a Partnership Interest in Exchange for Services
  • Part III Basis of a Partner's Partnership Interest and the Impact of Partnership Liabilities
    • Chapter 6: Determining the Basis of a Partner's Partnership Interest
    • Chapter 7: Basis Consequences of Partnership Liabilities
    • Chapter 8: Determining a Partner's Share of Partnership Liabilities for Basis Purposes
  • Part IV Tax Aspects of Partnership Operations; Audit and Litigation; and Distributive Share Rules
    • Chapter 9: Tax Accounting for Partnership Operations
    • Chapter 10: TEFRA Partnership Audit and Litigation Rules
    • Chapter 10A: Centralized Partnership Audit Regime
    • Chapter 11: Determining the Partners' Distributive Shares
    • Chapter 12: Distributive Share Allocations in Connection With Shifts in the Partners' Interests
  • Part V Terminations; Partnership-Partner Transactions; and Family Partnership Rules
    • Chapter 13: Termination of a Partnership
    • Chapter 14: Transactions Between Partnerships and Partners
    • Chapter 15: Family Partnership Rules
  • Part VI Transfers of Partnership Interests
    • Chapter 16: Sales, Exchanges, and Other Transfers of Partnership Interests
    • Chapter 17: Transfers of Interests in Collapsible Partnerships
    • Chapter 18: Incorporation of a Partnership
  • Part VII Partnership Distributions
    • Chapter 19: Distributions That Do Not Alter the Partners' Interests in Section 751 Property
    • Chapter 20: Post-Distribution Consequences to the Distributee
    • Chapter 21: Distributions That Alter the Partners' Interests in Section 751(b) Property
  • Part VIII Death or Retirement of a Partner
    • Chapter 22: Payments in Liquidation of the Interest of a Retired or Deceased Partner
    • Chapter 23: Special Problems Relating to the Death of a Partner
  • Part IX Adjustments to the Bases of Partnership Assets
    • Chapter 24: Adjustments to the Bases of Partnership Assets in Connection With Transfers of Partnership Interests
    • Chapter 25: Adjustments to the Bases of Partnership Assets in Connection With Distributions of Partnership Assets
    • Chapter 26: Special Basis Adjustments in Connection With Distributions to Transferee-Partners: Section 732(d)

• Federal Taxation of Partnerships and Partners Sample View
• Checkpoint Tax Research Demo View