| LO 21-1 | Determine the tax consequences to the buyer and seller of
the disposition of a partnership interest, including the
amount and character of gain or loss recognized.
|
| LO 21-2 | List the reasons for distributions, and compare operating
and liquidating distributions.
|
| LO 21-3 | Determine the tax consequences of proportionate operating
distributions.
|
| LO 21-4 | Determine the tax consequences of proportionate
liquidating distributions.
|
| LO 21-5 | Explain the significance of disproportionate distributions.
|
| LO 21-6 | Explain the rationale for special basis adjustments,
determine when they are necessary, and calculate the special
basis adjustment for dispositions and distributions.
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