The National Association of Tax Professionals

The National Association of Tax Professionals

Death of a Business Partner

  • Topic(s): Advanced, Intermediate
  • Presenter(s): Beanna J. Whitlock
  • Session#: 930-14
  • Session Length: 100 Minutes
  • Program: 2010 National Conference
  • Date: Jul 21, 2010
Product Name Price Qty
AudioPoint MP4 (download)
$24.95
Audio MP3 (download)
$15.95

Death of a Business Partner - Details:

Logically, a partner's death has a significant impact on his or her partnership from both a business and a tax aspect. An election under §754 can provide advantages to partners by blending provisions to equalize the inside and outside interests of the deceased. Discover the advantages and disadvantages of a §754 election, how it is to be made, and what to avoid. You will learn how to allocate §754 depreciation to the remaining partners and how to adjust the capital accounts. Terminating a partnership after the death of a partner will also be covered.