For partnership tax years ending after December 31, 2015, partnerships can request up to a six-month extension by filing IRS Form 7004 prior to the original due date of the partnership return.
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Q5: Partners must generally treat the value of
Q7: Tax elections are rarely made at the
Q8: A partner's outside basis must first be
Q9: Income earned by flow-through entities is usually
Q10: An additional allocation of partnership debt or
Q16: A partnership with a C corporation partner
Q17: Adjustments to a partner's outside basis are
Q18: Partnerships can use special allocations to shift
Q19: Nonrecourse debt is generally allocated according to
Q20: A partnership can elect to amortize organization
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