Webinar: 2024 1040 Individual Tax Conference Part D by Professional Tax Institutes, Inc.

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About This Webinar

Regardless of the reason for their termination, partnerships nearing the end of their existence create numerous tax issues for both the entity and for the partners. Most of these issues pass through to the partners on their Schedules K-1 (Form 1065), Partner’s Share of Income, Deductions, Credits, etc. Sometimes, federal tax law is guided by partnership agreements or state law. An installment sale is a sale of property in which the taxpayer receives at least one payment after the year of sale. The year of sale is the one in which the taxpayer and another person enter into a binding agreement to transfer the property. To be legally binding, the agreement must include adequate consideration and may be governed by state laws.

IRS Provider #0FY01 & NASBA Sponsor ID #103026

Agenda

Partnership Terminations
Installment Sales
Partners Terminating Interest in a Partnership

Presenters

Paul Bumgarner, Charlotte, NC

Shareholder, Enrolled Agent

Paul is a sole practitioner in Charlotte, NC. After opening his practice in 1974, he became an enrolled agent in 1977. Paul attended the University of North Carolina at Charlotte and is a graduate of Central Piedmont Community College with a degree in accounting. He has served as a seminar speaker for various accounting organizations for more than 35 years, 20 of which as a farm and small business tax instructor for NC State University.

Fran Coet, Fairhope, AL

CPA

After successful tax and accounting career owning Coet 2 CPAs and as a partner with the successor firm, ATLAS Advisors & CPAs, a regional CPA firm, Fran Coet left the Front Range area of Colorado and relocated to the Eastern Shore of Mobile Bay in Alabama. Since April of 2021, she is growing her boutique tax planning and preparation firm, A Dollar Here, A Dollar There, PC. Fran is licensed as a CPA in Colorado & Alabama.

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