MTAX 6485 - Advanced Partnership Taxation

This course is an advanced federal income tax course focusing on the taxation of partnerships and their partners. Topics often include discussions on allocations of partnership income and loss under the “substantial economic effect” and the partner’s interest in the partnership rules, targeted capital accounts, allocation of debt to partners’ bases, “hot assets”, profits interests, related-party transactions, distribution “waterfalls”, profit and loss allocation “waterfalls”, and taxation of retiring partners. Students cannot receive credit for both MTAX 6485 and MTAX 6482. Prereq: Grade of C (2.0) or higher in ACCT 6140 or ACCT 4410 or at least 6 credit hours of MTAX courses. Restriction: Restricted to graduate business majors and NDGR majors with a sub-plan of NBA or CPA within the Business School. Max hours: 3 Credits. Semester Hours: 3 to 3