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What sets us apart from the competition is the breadth and depth of our instructors’ knowledge. Click on any photo below for a brief bio.
2.0 CPE CREDITS
The number of partnership returns processed by the IRS grew by 85% between 2000 and 2019. This increase means that many tax preparers may have not historically prepared these returns but are finding themselves with more clients needing their preparation. This self-study course is designed to outline the basics of preparing partnership returns, to prepare you for such returns that end up on your desk.
This includes a discussion of the nature and creation of partnerships; types of partnerships, their default rules, and what’s included in a partnership agreement. We discuss when partners can elect out of subchapter K treatment for their partnerships, and what effects this may have. This course then spends significant time discussing capital accounts, adjustments for transfers of partnership interests, and the tax consequences of property contributions to a partnership. Partner tax basis is included in the presentation as well.
If you want to build upon your partnership knowledge after taking this course, check out Partnership Operations.
Last reviewed for accuracy: October 2024
This course involves completing a pretest, watching a video, answering quiz questions throughout, and successfully passing an exam with a score of 70% or better. The course includes a set of PDF materials that accompany the presentation.
CPE: This course offers 2.0 CPE credit and is approved by the IRS and NASBA for CPA credit in all states.
Cost: $50
Expiration: Per IRS guidelines, this course expires on 12/31/2026. Students must complete the course and pass the final exam by the expiration date or 1 year from the time of purchase, whichever comes first.
Access Instructions: Upon purchase, students receive a transaction receipt via email that contains instructions to complete the course, as well as a code that is required to earn credit for the course. Important note: the person purchasing this self-study course must be the same person taking the course and completing the exam. This course performs best utilizing a desktop or laptop computer, not a mobile device.
For questions regarding refunds, registration policies, and resolving concerns, please see our Policies and FAQ.
What sets us apart from the competition is the breadth and depth of our instructors’ knowledge. Click on any photo below for a brief bio.
Learning Objectives: By attending this session, participants will be able to:
CPE Credits (qualifies for IRS): 2.0. Final exam must be passed with a score of 70% or better.
Expiration: Per IRS guidelines, this course expires on 12/31/2026. Students must complete the course and pass the final exam by the expiration date or 1 year from the time of purchase, whichever comes first.
Delivery Method: QAS self-study (online self-study)
Program Level: Overview
Field of Study: Taxes
Prerequisite(s): Professional experience preparing federal tax returns.
Materials: Upon purchase, the transaction receipt that is provided via email will contain instructions to access the course materials.
Advance Preparation: None
Please see the CPE FAQ for more information.
With our self-study courses, you can earn CPE anytime, from any computer or internet-connected device.
