Partnership Interests -- Sales and Terminations

Price: $224 eLearning


Sign up today for an entire year of unlimited access to relevant, timely professional learning courses, including webinars, eLearning courses and OnDemand offerings, and keep your professional credits up to date. All for just $399.

Learn more about the subscription!



This basic course provides an overview of the federal income tax consequences to the entities involved in the partnerships relationship upon the sale or termination of a partnership interest.

Relative to the selling partner, the course discusses:
• Amount, character, and holding period (including split period) of gain or loss
• Collapsible partnership rule
• Installment sales of partnership interests
• Varying interest rule 

For the purchasing partner, the course discusses:
• Outside basis
• Capital accounts 

Under the partnership, as an entity distinct from its owners, the course discusses:
• Inside basis
• Depreciation 
• The I.R.C. §754 election 
• Revocations
• Technical terminations

Educational Objectives
• Understand how to determine the amount of a selling partner’s gain or loss
• Understand the timing and effects of applying the collapsible partnership rule
• Understand when a partner has a divided holding period in a partnership
• Know when a partner may use the installment method to sell a partnership interest
• Know when to apply the varying interest rule
• Know the difference between inside and outside basis
• Understand the I.R.C. §754 election
• Know how to determine capital accounts
• Understand technical terminations