V2-SM_ch 10

V2-SM_ch 10 - CHAPTER 10 PARTNERSHIPS: FORMATION,...

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Unformatted text preview: CHAPTER 10 PARTNERSHIPS: FORMATION, OPERATION, AND BASIS SOLUTIONS TO PROBLEM MATERIALS Status: Q/P Question/ Learning Present in Prior Problem Objective Topic Edition Edition 1 LO 1 Partnership definition New 2 LO 1 General partnership versus LLC New 3 LO 1 Check-the-box regulations New 4 LO 2 Partnership tax reporting Modified 1 5 LO 2 Analysis of Income schedule Modified 1 6 LO 2 Partnership Schedule M-3 New 7 LO 3, 7, 11 Special allocations New 8 LO 3 Capital accounts New 9 LO 3 Inside versus outside basis New 10 LO 4 Comparison of corporate and partnership Unchanged 2 treatment 11 LO 4 Application of 721 New 12 LO 4 Exceptions to 721 New 13 LO 4 Disguised sale issue recognition Unchanged 4 14 LO 5 Initial costs of a partnership New 15 LO 6 Cash accounting method for partnerships New 16 LO 7 Economic effect test Unchanged 8 17 LO 8, 9 Adjustments to partners basis Unchanged 9 18 LO 9 Liability allocations to basis Unchanged 10 19 LO 10 Loss limitations New 20 LO 11 Guaranteed payments New 21 LO 9, 10 Partnership advantages and disadvantages Unchanged 12 12 22 LO 4, 6, 7, Partnership formation and operations Unchanged 13 9, 10, 11 issues 23 LO 4 Formation of partnership; inside and basis Unchanged 14 24 LO 4, 12 Formation of partnership; inside and outside Unchanged 15 outside basis Instructor : For difficulty, timing, and assessment information about each item, see p. 10-4. 10-1 10-2 2011 Corporations Volume/Solutions Manual Status: Q/P Question/ Learning Present in Prior Problem Objective Topic Edition Edition 25 LO 4 Contribution of various properties on Unchanged 16 formation of a partnership; basis and depreciation 26 LO 4 Formation of a partnership New 27 LO 4 Formation of a partnership New 28 LO 4, 8, 12 Basis of property received as gift; receipt of Modified 18 interest for services 29 LO 4, 12 Planning for service interests Modified 18 30 LO 4, 12 Disguised sale versus distribution Unchanged 19 *31 LO 4 Treatment of contributed property New 32 LO 5 Tax issues related to formation of Unchanged 5 partnership 33 LO 4, 5, 6, Preparation of initial LLC tax return Unchanged 6 7 34 LO 6 Accounting methods Unchanged 7 *35 LO 5 Definition of organization costs; Unchanged 22 amortization of organization costs *36 LO 4, 5, 6 Formation of partnership; treatment of costs New *37 LO 6 Computation of partnerships required tax Unchanged 24 year under the least aggregate deferral method 38 LO 4, 7 Date basis of partners interest; gain on sale Unchanged 25 of contributed land with precontribution built-in gain *39 LO 7 Date basis of partners interest; loss on sale Unchanged 26 of contributed land *40 LO 7, 8, 9 Computation of partners outside basis at Modified 27 beginning and end of year when several transactions took place *41 LO 7, 8, 11 Partnership income; partners basis; Modified 28 separately stated items; guaranteed payments 42 LO 7, 8, Partnership income; partners basis; loss Modified 29 10, 11 limitations; guaranteed payments...
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V2-SM_ch 10 - CHAPTER 10 PARTNERSHIPS: FORMATION,...

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