DESCRIPTION
This module covers the tax effects of ordinary and liquidating distributions to partners and the special adjustments of partnership property under §743(b) and §732(d). There are multiple exercises throughout the module to help reinforce the student’s learning.
LEARNING OBJECTIVES
- Differentiate between current and liquidating distributions
- Discuss the different tax effects of current and liquidating distributions
- Examine the impact that §743(b) & §732(d) adjustments have on distributed property

