Category: Basics [Partnerships]

Information on basic issues related to taxation of Partnerships.

Picture of Form 1065

Partnerships: Aggregate vs. Entity Approach

Under U.S. tax law, taxation of partnerships is governed by Subchapter K of the Internal Revenue Code, and this particular field of tax is widely understood as the most sophisticated area of taxation regimes in the United States. Much of the sophisticated (and potentially counter-intuitive) methods found in Subchapter K stem from two competing approaches to how we view the...