Author: Greg White
CPE Credit: 4 hours for CPAs
We'll cover important planning strategies and have some fun along the way.
Publication Date: November 2025
Designed For
Tax professionals who practice in the partnership area.
Topics Covered
- What's a partnership for tax purposes?
- Why does it matter if you have a partnership?
- When do LLC members pay self-employment tax?
- §199A (QBID) for partnerships
- Allocating losses to partners' K-1s
- Fringe benefits for partners
- Gain on sale of partnership interest
- Liability allocations on Form K-1
- Step-ups
- Allocating depreciation under §704(c)
- Transforming interest expense
- Notifying the IRS of inconsistencies with K-1
Learning Objectives
- Identify important considerations at the formation of a partnership
- Recognize opportunities to admit new partners with no tax to the new partner, and an exit strategy for departing partners
- Identify planning strategies to maximize partnership section 199A deductions
- Identify deducting payments for redemption of a partnership interest (service partnerships)
- Identify circumstances where a partnership works better than an S corp and when it doesn’t
- Identify partnerships that can elect out of the new partnership audit regime (CPAR), and when they should elect out
- Identify circumstances in which self-employment tax doesn’t apply to limited partners and LLC members
- Identify the phase-in range for married filing jointly taxpayers with respect to QBID
- Identify the unrecaptured §1250 rate
- Identify the number of ways to perform partnership allocations
Level
Intermediate
Instructional Method
Self-Study
Field of Study
Taxes (4 hours)
Program Prerequisites
Some experience in the federal taxation of partnerships.
Advance Preparation
None
The Partnership and LLC Taxation: Entities Taxed as Partnerships ACCPE on-demand video CPE course is a flexible self-study program designed for CPAs and accounting professionals. This course provides practical knowledge and real-world applications. You can complete the course online and receive your certificate instantly upon passing the exam. ACCPE makes earning CPE convenient, affordable, and fast.
