Introduction to Partnerships Taxation Agenda

• Kathleen Costello, CMP, Assistant Director, NYU School of Professional Studies, New York, NY

Introduction; choice of entity considerations; entity classification and restrictions on partnership status. Formation of a partnership nonrecognition, beginning book and tax capital account and beginning basis; taxable year; methods of accounting.

• Charles R. Bogle, Esq., Partner, Morgan, Lewis & Bockius, New York, NY
• Justin S. Cohen, Esq., Associate, Hughes Hubbard & Reed, New York, NY

Effect of partnership operations on tax and book capital accounts and basis; special allocations.

• Sean Austin, Esq., Managing Director, KPMG, New York, NY
• Charles Kaufman, Esq., Managing Director, KPMG, New York, NY

Allocations of nonrecourse debt and nonrecourse deductions.

• Alan Kravitz, Esq., Counsel, Hughes Hubbard & Reed, New York, NY
• Andrew Lau, Vice President, Head of Tax, MN8 Energy, New York, NY

Current and liquidating distributions, disproportionate distributions

• Alan Kravitz, Esq., Counsel, Hughes Hubbard & Reed, New York, NY
• Andrew Lau, Vice President, Head of Tax, MN8 Energy LLC, New York, NY

Disguised sales and other partner-partnership transactions.

• Steven R. Schneider, Esq., Partner, Stroock & Stroock & Lavan, Washington, DC
• Matthew Busta, CPA, Managing Director, KPMG, Philadelphia, PA

Sales and purchases of partnership interests.

• James A. Gouwar, Esq., Partner, Clifford Chance, New York, NY
• Hannah Richard, Esq., Counsel, Clifford Chance New York, NY

Consequences under subchapter K, including effect on timing and character of income.

• James A. Gouwar, Esq., Partner, Clifford Chance, New York, NY
• Hannah Richard, Esq., Counsel, Clifford Chance New York, NY

An overview of recent developments in the law and in the uses of partnerships.

• James A. Gouwar, Esq., Partner, Clifford Chance, New York, NY
• Megan Stoner, Esq., Managing Director, BDO USA, Potomac, MD

Workouts; foreclosure; deed in lieu; abandonment of partnership interest.

• James A. Gouwar, Esq., Partner, Clifford Chance, New York, NY
• Robert D. Schachat, Esq., Managing Director, National Tax, BDO USA, Washington, DC

Work through a partnership tax return and a sample partnership agreement with emphasis on the tax-sensitive provisions, such as capital account maintenance, book-ups, choice of allocation methods under Section 704(c), allocation and distribution provisions, and liquidation provisions.

• James A. Gouwar, Esq., Partner, Clifford Chance, New York, NY
• Mike Hurwitz, CPA, Partner, BDO, New York, NY