Authors/Editors:
Robert Ricketts, Ph.D., CPA; and P. Larry Tunnell, Ph.D., CPA

ISBN: 978-0-8080-1966-4
Date Published: 6/09

Suggested List Price: $118.00
Net Bookstore Price: $94.40

Practical Guide to Partnerships and LLCs (4th Edition), by Robert Ricketts and Larry Tunnell, discusses the complex issues involving partnership taxation with utmost clarity. It uses hundreds of illustrative examples, practice observations, helpful charts and insightful explanations to make even the most difficult concepts understandable. The book reflects the authors' penchant for communicating the pertinent facts in very direct language and creating a context for understanding the multifaceted issues and applying them to practice.

This new edition fully reflects all the latest developments in this complex area. These include changes affecting:

• Partnership basis adjustments
• Transfers to partnerships of property with built-in losses
• Sale of an interest in a partnership with built-in loss property
• Disproportionate distributions from partnerships with built-in loss property
• Expensing and amortization of partnership organizational expenses
• Partnership treatment of the deduction for domestic production activities
• Recognition of cancellation-of-indebtedness income, and more

In six parts, Practical Guide to Partnerships and LLCs covers the critical aspects of this complicated area, with individual parts focusing on partnership characteristics, funding, taxation of operations, partner's share of partnership debt, disposition of partnership interest, and distributions. From choice-of-entity considerations to sales and liquidations, the entire breadth of partnership and LLC taxation is covered. Special attention is given throughout to the complex inter-workings of rules that bind, tax and control these entity operations.

The detailed and substantial coverage in the text is enhanced by the abundant illustrations and special aids to understanding, such as flowcharts, offered throughout. Practical Guide to Partnerships and LLCs should find a welcome place with all tax practitioners.

The Third Edition of Practical Guide to Partnerships and LLCs is accompanied by an Instructor’s Guide which serves as a companion to the text. It is designed to help instructors and students who use the book in a classroom setting and contains an extensive set of problems. While the materials are copyrighted, adopting instructors are free to reproduce and distribute the Instructor’s Guide Problems to students using CCH’s Practical Guide to Partnerships and LLCs. We anticipate that many instructors may want to supplement the Instructor’s Guide Problems with their own exercises and assignments.

CCH provides complimentary examination copies of its textbooks for consideration toward classroom adoption in accredited programs of study. Course information such as course name, term, estimated enrollment, decision date, etc… is requested so we may better serve you

CCH provides complimentary desk copies of its Textbooks and Teaching Packages when a text is ordered for classroom use in a quantity of ten copies or more.