Alan’s presentation addressed a variety of traps presented by common business transactions entered into by partnerships and S corporations – both from a tax planning and return preparation standpoint – including (i) misconceptions regarding allocations of partnership income and loss, (ii) “look-through” rules regarding sales of partnership interests, (iii) consequences of partnership “technical terminations”, (iv) failure to liquidate an S corporation in the same taxable year in which its assets are sold, and (v) alternative methods of structuring installment sales by S corporations.
11.20.2014