Federal income taxation of partners and partnerships in a nutshell

Burke, Karen C., 1951- author

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  • Creator Karen C. Burke, Professor of Law and Richard B. Stephens Eminent Scholar in Taxation, University of Florida, Levin College of Law
  • Format Books
  • Publication
    • Sixth edition
    • St. Paul, MN : West Academic Publishing, [2020]
    • ©2020
  • Series
  • Physical Details
    • xlvi, 429 pages ; 19 cm
  • ISBNs 9781684674312, 168467431X
  • OCLC on1128093613


  • "This book provides a concise overview of federal partnership taxation. It covers partnership formation, including contributions of property and admission of service partners, allocation of income and loss, tax accounting, and sharing of recourse and nonrecourse liabilities. Building on this foundation, the book also addresses advanced topics, including transactions between partners and partnerships, sales of partnership interests, distributions of property, optional and mandatory basis adjustments, and planning for retirement or death of a partner. Numerous concrete examples illustrate the tax treatment of specific transactions, allowing students to grasp the principles of partnership taxation in a problem-oriented course. The revised fifth edition reflects developments through September 2016, including proposed rules relating to compensatory profits interests and fee waivers, contributed built-in loss property, sharing of partnership liabilities and disguised sales, basis adjustments under ʹʹ 743(b) and 755, and ʹ 751(b) distributions."


  • Includes bibliographical references and index.


  • Introduction to partnership taxation -- Organization of a partnership -- Partnership tax accounting -- Partnership allocations -- Contributed property : Section 704(c) -- Partnership liabilities -- Partner-partnership transactions -- Transfers of partnership interests -- Partnership distributions -- Death or retirement of a partner
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