When you form a small business by creating a partnership, you and your partners contribute assets to the new company. This is the basis for each partner's interest in the company. Each partner forms a ...

On Thursday, the IRS released an early draft of the instructions for Form 1065, U.S. Return of Partnership Income (IR-2020-240). The IRS is accepting comments on the draft instructions for 30 days and ...

In their Real Estate Financing column, Ezra Dyckman and Charles Nelson discuss the new 2020 partnership tax basis capital account reporting requirements which "give the IRS much more visibility into ...

Whether it’s a legal, tax, insurance, management or land issue, Farmers Weekly’s Business Clinic experts can help. Here, Kate Bell of accountant Albert Goodman sets out considerations on partnership ...

Forbes contributors publish independent expert analyses and insights. Peter J Reilly is a Forbes contributor who covers taxes. The IRS put something exciting on Page 30 of the draft 2020 Instructions ...

The Tax Court addressed the proper treatment of an accounting firm’s distributions of “client-based” intangible assets, the capital accounting rules of Regs. Sec. 1.704-1(b)(2)(iv), and the tests for ...

Notice 2019-66 provides that the requirement to report partners’ shares of partnership capital on the tax basis method will not be effective for 2019 (for partnership taxable years beginning in ...

A partnership starts with an agreement between two or more people who want to go into business together. When a partnership ends, the partners begin a complicated process of fulfilling financial ...