Surgent's Limited Liability Companies: Losses, Liquidations, Terminations, Continuations, and Sales Download

Course Details





Field of Study


CPE Credit

4 hours CPE credit

Level of Knowledge



Surgent McCoy CPE, LLC


A beginning course in LLCs/partnerships; experience with LLC/partnership clients


The purpose of this course is to provide an in-depth discussion of selected advanced-level issues affecting LLCs and LLPs.


  • When are distributions taxable?
  • Miscellaneous issues, including the critical difference between §736(a) and §736(b) payments
  • Sales of an LLC interest -- holding period and hot asset issues
  • Tax Cuts and Jobs Act of 2017 partnership and LLC provisions, including latest updates on §199A as it shakes itself out


  • Identify when distributions are taxable, including disguised sales and the tax on pre-contribution gain
  • Discuss the tax consequences of a liquidation of a partner’s interest
  • Describe the options when a partnership terminates or continues following an acquisition or merger 
  • Explain the tax consequences of a sale of an interest and distinguish such consequences from the tax consequences when a partnership or LLC is acquired or merges into another LLC or partnership
  • All four of the above bullet points offer options; the practitioner must understand the various tax consequences of the options

Designed For

CPAs with clients using the LLC or LLP structure who need to understand advanced issues, problems, and planning strategies

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