The purpose of this course is to provide an in-depth discussion of selected advanced-level issues affecting LLCs and LLPs.


  • Identify when distributions are taxable, including disguised sales and the tax on pre-contribution gain, including the options on reducing that gain - the practitioner must present these options to the client because the tax consequences are different, depending on the option chosen
  • Discuss the tax consequences of a liquidation of a partner's interest
  • Describe the options when a partnership terminates or continues following an acquisition or merger
  • Explain the tax consequences of a sale of an interest and distinguish such consequences from the tax consequences when a partnership or LLC is acquired or merges into another LLC or partnership
  • All four of the above bullet points offer options; the practitioner must understand the various tax consequences of the options


  • When are distributions taxable?
  • Miscellaneous issues, including the critical difference between §736(a) and §736(b) payments
  • Sales of an LLC interest - holding period and hot asset issues
  • Tax Cuts and Jobs Act of 2017 partnership and LLC provisions

Who Will Benefit

CPAs with clients using the LLC or LLP structure who need to understand advanced issues, problems, and planning strategies


Category Amount
Tax 4.00