This program is a fast paced “double header” . . . designed for the CPA who is well grounded in the basics of Subchapter K and Subchapter S, who wants to learn how to deal with some of the more complex issues these two pass-through entities often present. PARTNERSHIPS and LLCs – Allocation of basis in debt (Sec. 752); step up in basis upon transfer (Sec. 754); disguised sales (Sec. 707); abandonment of partnership interest (deemed distribution issues); reallocation of depreciation; determining LLC member’s SE income; this part of the program builds on your basic understanding of partnership tax law and prepares you to handle complex partnership transactions. S CORPORATIONS – Shareholder basis; reasonable shareholder compensation; trusts as S corporation shareholders; S corporation mergers, split-ups, and liquidations; built-in gain; C corporation earnings and profits; special calculations when terminating or revoking elections; complexities of AAA; and dealing with QSubs; and back -to-back loans; this part of the program answers the difficult “Sub S” questions and clarifies how S corporations and partnerships are very different.