Exam Pro on Partnership Taxation

The Second Edition of the Exam Pro on Partnership Taxation is a comprehensive partnership tax study guide with questions, answers, lectures, and study questions on the deduction for qualified business income under section 199A, the new regulations on allocating partnership recourse debt, and the choice of entity for conducting business and investment activities. It also includes twelve sample exams with full answers to help JD and LLM students from the first day of class.

Format: Paperback / softback
Length: 629 pages
Publication date: 01 August 2021
Publisher: West Academic Publishing

The Second Edition of Exam Pro on Partnership Taxation is a comprehensive and updated study guide for partnership taxation, designed to assist JD and LLM students from the first day of class. This edition extends the approach of the original, offering a wealth of information and practice questions to help students prepare for their partnership tax exams.

The book is divided into three sections:

Section 1: Introduction to Partnership Taxation
This section provides an overview of partnership taxation, including the types of partnerships, the tax consequences of partnership transactions, and the basic accounting concepts that are essential to understanding partnership tax. It also includes over 50 short lectures on topics in partnership tax, illustrated by over 280 study questions, each with a complete explanation of the right (and wrong) answers.

Section 2: Deduction for Qualified Business Income under Section 199A
This section covers the deduction for qualified business income under section 199A, which was introduced in the Tax Cuts and Jobs Act of 2017. It includes lectures and study questions on the requirements for the deduction, the limitations on the deduction, and the strategies for maximizing the deduction.

Section 3: New Regulations on Allocating Partnership Recourse Debt
This section discusses the new regulations on allocating partnership recourse debt, which were implemented in 2018. It includes lectures and study questions on the allocation rules, the impact of the regulations on partnership tax planning, and the strategies for complying with the regulations.

In addition to the lectures and study questions, the book includes twelve sample exams (a total of 120 more questions) that increase in difficulty from basic to advanced. These exams are labeled so that students can pick the exams that are right for them and the course they are taking. Full answers to each of the exam questions are provided, with cross-references to the lectures and the study questions.

The book is authored by Robert R. Wootton, Professor Emeritus of Practice of Law, and Sarah B. Lawsky, Professor of Law, both at Northwestern Pritzker School of Law. They have extensive experience in teaching partnership taxation and have written numerous books and articles on the subject.

Exam Pro on Partnership Taxation is an essential resource for JD and LLM students who are studying partnership taxation. It provides a comprehensive and up-to-date understanding of the subject, with a focus on practical application and real-world scenarios. With its clear and concise writing style, extensive illustrations, and practical examples, the book is easy to read and understand, making it an invaluable tool for anyone preparing for their partnership tax exams.

Weight: 333g
Dimension: 254 x 186 (mm)
ISBN-13: 9781684671144
Edition number: 2 Revised edition