Objective
- Understand the new changes to the partnership tax rules resulting from the Tax Cuts and Jobs Act of 2017
Highlights
- Repeal of technical terminations of partnerships
- Recharacterization of certain gains in the case of partnership profits interests held in connection with the performance of investment services – carried interests
- Treatment of gain or loss of foreign persons from sale or exchange of interests in partnerships engaged in a trade or business within the United States
- Modification of the definition of substantial built-in-loss in the case of a transfer of a partnership interest
- New built-in-loss rules for partnerships
Designed For
Tax practitioners who anticipate advising clients with respect to partnership tax issuesPrerequisite
A basic understanding of the tax rules relating to individual income taxAdvanced Preparation
None