AIM 6354
Partnership Taxation
The University of Texas at Dallas
Su' 2003
5/9/2003
Lecturer:		Ronald J. Blair, CPA, MBA
Office:		JO 5.508H		Hours:  M-F, 9:00 - 5:00
Phone:		972-883-4090		Fax:      972-883-4095
Email:		rblair@utdallas.edu
Website:		http://utdallas.edu/~rblair/
Text:		Lind, Schwarz, Lathrope, and Rosenberg, Fundamentals of Partnership Taxation
		Sixth Edition, Foundation Press, 2002    (ISBN 1-58778-221-9)
		Class discussion slides are based generally on the text.  Other references include McKee,
		Nelson & Whitmire, Federal Taxation of Partnerships and Partners, Third Edition, Warren,
		Gorham & Lamont
		In the frequent quotation of statute in the classnotes (slides), emphases of certain words and
		phrases are added by the lecturer.
Grading:		Three exams - 100 points each	300
		Preparation of partnership return	100
		Weekly preparation, class participation,
		and problems	100
		Total points	500
Objective:  The course will include an analysis of the IRC, Treasury Regulations, and other authorities
relating to the taxation of partnerships.  Its purpose is to give the student knowledge of the tax
considerations of this organizational form of operating a business, the effect, the advantages, disadvantages,
and pitfalls, as well al the responsibilities that go with it.  It will also give the student an introduction to the
partnership return and its purpose.
Students should read the assigned chapters, IRC sections, Regs, prepare the weekly assigned problems,
and be prepared to discuss the problems in class voluntarily or when called upon.  The student should
print a copy of each IRC section in Subchapter K for reference through the semester.
Students must bring Scantron Form No. 882-E for Exams - mandatory.  Tests will be open book,
generally problems, rules, and concepts answered in true/false and multiple choice format.
Course schedule:
		LSL&R
Wk	Date	Chapter	IRC §§	Treas. Regs. §§
		Partnership Tax in Brief
1	22-May	1  Overview of Taxation of	§761; §7701
		Partnerships and Partners
		Problems: p. 15
		Building a Partnership
2	29-May	2  Formation of a Partnership	§§721 - 723; §704; §724
		Problems: p. 33, p. 40, p. 43, p. 47, p. 56, p. 70, p.72
		Rules of Partnership Operations - In General
3	5-Jun	3  Operations of a Partnership:	§§701 - 703; §704(d);	§§1.707-1; 1.702-1(b);
		General Rules	§§705-706	1.703-1(a); §1.704-1(d)
		Problem: p. 93; p. 96; p. 100;
		#1, p. 108; #1, p. 116
		Partnership Operations - Allocations
4	12-Jun	4  Partnership Allocations
		A  Introduction
		B  Special Allocations Under	§704(b)
		Section 704(b)
		Problems: ##1 and 2, p. 155; and p. 167
		Exam I
		Chapters 1 - 3
		Partnership  Return
5	19-Jun	Partnership Form 1065
		Form 1065 Software - Computer Lab - JO 4.914
		Allocations (cont'd)
6	26-Jun	4  Partnership Allocations (cont'd)
		C   Allocations With Respect	§704(a) and (c)	§§1.701-3(a);
		to Contributed Property		1.704-1(b)(1) and (2)
		Problem: ##1 and 2, p. 189
		D  Allocation of Partnership	§704(c)(1)(A); §752(a) - (c)	§§1.752-1; 752-2(a) - (c)
		Liabilities
		Problem: #1, p 207
		E  Allocations Where Partners'	§706(c)(2)(B) and (d)	§1.706-1(c)(4)
		Interests Vary During the
		Year
		Problem: #2, p. 214
		F  The Family Partnership Rules	§704(e)	§1.704-1(e)(1) & (3)(i)(b)
		Problems: p. 219
		The Anti-Abuse Regs. - §1.701-2
		10  The partnership Anti-Abuse		§§1.701-2(a) - (c);
		Regulations		1.701-2(e), (h) & (i)
		Problem: p. 391
		(July 7 is Graduate Students' last day to withdraw from a course with an
		automatic "W")
		Partner / Partnership Transactions
7	3-Jul	5  Transactions Between	§707(a)(1) and (c );	§§1.707-1(a) and (c);
		Partners and Partnerships	§267(a)(1) - (d); §453(g)	1.707-3(a) - (d)
		Problems: p. 228; #1, p. 234;#1 and #2, p. 242; #1 and #2, p. 248
		Exam II
		Chapter 4 and 10
			Page 2
		Partnership Interest Dispositions
8	10-Jul	6  Sales and Exchanges of	§705(a); §706(c); §§741, 742,	§§1.7061(c)(1) - (5);
		Partnership Interests	§743; §751(a) - (f); §752(a);	1.743-1(a) - (e);
			§§754, 755	1.751-1(a) and (c);1.754-1;
				1.755-1(a)
		Problems: #1, p. 266; p. 268, p. 273; and #1, 281
		Distributions - Operating
		7  Operating Distributions	§§731, 732(a) - (d),733; §735;	§§1.731-1(a)(1) and (3);
		Except E	§751(a) - (d); §1245	1.732-1(a) - (d); 1.733-1;
				1.735-1; 1.1245-4(f)(2)&(3)
		Problems: ##1 and 2, p. 294; #1, p. 297; p. 303, and p. 308
		Partnership Return Due
		Liquidations / Terminations
9	17-Jul	8  Liquidating Distributions and	§§708(b)(1); §§731, 732;	§§1.731-1(a)(2); 1.732-2(b);
		Terminations -	§735, §751	1.736-1(b)(4)
		Problems: p. 325; #1, p. 338; p. 348, p. 354, p. 359; and #1, p. 370
		Death of a Partner
		9  Consequences of Partner's	§694; §706(c); §708(b); §753;	§§1.742-1; 1.753-1(a)
		Death	§1014(a) & (c); §2033
		Problems: p. 385 and #2, p. 387
		Review of Partnership Return
		S Corporations
10	24-Jul	11  S Corporations and Their	§311(b); §§1361, 1362, 1363;
		Shareholders	§§1366(a) - (e), 1367, 1368;
			§§1371, 1372; §§1374, 1375;
			§1378
		Problems:  (a) thru (e), pp 403-404; (a) thru (e), pp 409-410;##1 and 2, pp. 432-433;
		##1 and 3, pp. 436-437;#1, p. 443; and #1, p. 449
11	31-Jul	FINAL EXAM
		Comprehensive, w/ emphasis on chapters 5 - 11