Publicly Traded Partnerships and Master Limited Partnership

Joe Nicola will present his webinar on Publicly Traded Partnerships and Master Limited Partnerships. His presentation will begin with some basic principles, including a short review of Section 7704 of the Internal Revenue Code and the accompanying IRS regulations. In this vein, he will define the term “qualifying income” and why it is important. Joe will then move into the main theme of the presentation: Understanding Schedule K-1 and mapping it to Form 1040. He will broadly introduce Schedule K-1 and the cover letter that typically accompanies the PTP’s Schedule K-1. Joe will then walk through a detailed mapping of Schedule K-1 to Form 1040. Perhaps the most important element of the discussion will be Joe’s presentation of the passive activity rules and their application to PTPs and MLPs. He will also address the complex mapping of passive activities from the K-1 to Form 1040. Joe will then discuss the purchase and sale of ownership interests, including the character of income. Finally, Joe will wrap up with a discussion of the tax rules that apply to the oil & gas industry, including depletion and intangible drilling costs. Throughout the presentation, Joe will briefly identify any new or proposed federal tax legislation that might affect PTPs.



-Early Bird Pricing $59 offered through June 30th.
-Pricing after June 30th $79

3 NASBA CPE & 3 IRS CE