Part 2 (of this two part course) focuses on the effect on a partner (or LLC member) and partnership (including an LLC taxed as a partnership) of the purchase and sale of a partnership interest.
A discussion will be held under the BBA (Centralized Partnership Audit Rules (CPAR)) Partnership Rules as to when a partnership itself may be income taxable and partners may be liable for partnership level tax for a time period prior to the time they joined the partnership (and how to prevent such a travesty). Discussion Leaders: Brad Burnett & E. Lynn Nichols