Solution Ch.21 South-Western Federal Taxation: Comprehensive Volume
CHAPTER 21
PARTNERSHIPS
SOLUTIONS TO PROBLEM MATERIALS
| | | | |Status: | Q/P |
|Question/ |Learning | | |Present |in Prior |
|Problem |Objective |Topic | |Edition |Edition |
| | | | | | | | | | |
1 LO 1 Partnership definition New 2 LO 2 General partnership versus LLC New 3 LO 1 Check-the-box regulations New 4 LO 2 Partnership tax reporting Modified 1 5 LO 2 Analysis of Income schedule Modified 1 6 LO 2 Partnership Schedule M-3 New 7 LO 3 Special allocations New 8 LO 3 Capital accounts New 9 LO 3 Inside versus outside basis New 10 LO 4 Comparison of corporate and partnership Unchanged 2 treatment 11 LO 4 Application of § 721 New 12 LO 4 Exceptions to § 721 New 13 LO 4 Disguised sale issue recognition Unchanged 4 14 LO 5 Initial costs of a partnership New 15 LO 6 Cash accounting method for partnerships New 16 LO 7 Economic effect test Unchanged 8 17 LO 8 Adjustments to partner’s basis Unchanged 9 18 LO 8 Liability allocations to basis Unchanged 10 19 LO 10 Guaranteed payments New 20 LO 8, 9, 14 Partnership advantages and disadvantages Unchanged 12 21 LO 4, 6, 7, Partnership formation and operations Unchanged 13 8, 9, 10 issues 22 LO 11 Basis in distributed property Unchanged 14 23 LO 11 Distribution ordering rules; liquidating New versus nonliquidating distributions 24 LO 11 Conceptual: tax results of distributions New 25 LO 12 Ramifications of sale of a partnership interest New
Instructor: For difficulty, timing, and assessment
PARTNERSHIPS
SOLUTIONS TO PROBLEM MATERIALS
| | | | |Status: | Q/P |
|Question/ |Learning | | |Present |in Prior |
|Problem |Objective |Topic | |Edition |Edition |
| | | | | | | | | | |
1 LO 1 Partnership definition New 2 LO 2 General partnership versus LLC New 3 LO 1 Check-the-box regulations New 4 LO 2 Partnership tax reporting Modified 1 5 LO 2 Analysis of Income schedule Modified 1 6 LO 2 Partnership Schedule M-3 New 7 LO 3 Special allocations New 8 LO 3 Capital accounts New 9 LO 3 Inside versus outside basis New 10 LO 4 Comparison of corporate and partnership Unchanged 2 treatment 11 LO 4 Application of § 721 New 12 LO 4 Exceptions to § 721 New 13 LO 4 Disguised sale issue recognition Unchanged 4 14 LO 5 Initial costs of a partnership New 15 LO 6 Cash accounting method for partnerships New 16 LO 7 Economic effect test Unchanged 8 17 LO 8 Adjustments to partner’s basis Unchanged 9 18 LO 8 Liability allocations to basis Unchanged 10 19 LO 10 Guaranteed payments New 20 LO 8, 9, 14 Partnership advantages and disadvantages Unchanged 12 21 LO 4, 6, 7, Partnership formation and operations Unchanged 13 8, 9, 10 issues 22 LO 11 Basis in distributed property Unchanged 14 23 LO 11 Distribution ordering rules; liquidating New versus nonliquidating distributions 24 LO 11 Conceptual: tax results of distributions New 25 LO 12 Ramifications of sale of a partnership interest New
Instructor: For difficulty, timing, and assessment