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May 13, 2024
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ACC 611 - Taxation of Flow-Through Entities (3 units)
Introduction to the federal income taxation system applicable to partnerships, S corporations and other flow-through entities.
Per university policy, students may not attempt this course more than twice.
Prerequisite(s): Graduate standing.
Units of Lecture: 3
Offered: Every Fall and Spring
Student Learning Outcomes:
Upon completion of this course:
1. Students will be able to determine how contributions from partner to partnership and distributions from partnership to partner are treated for tax purposes.
2. Students will be able to compute partners’ bases in the partnership interest and understand the difference between basis and capital account (equity).
3. Students will be able to calculate the flow-through entity’s income (loss) and understand the various rules how this income (loss) is allocated to the entity’s owner(s).
4. Students will be able to describe and apply various anti-abuse provisions, specifically Section 751 and 754 rules.
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