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ACTG 266 Tackling K-1s and Common Tax Deductions/Credits

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Minimum Grade for Prerequisites

Unless otherwise indicated, a grade of C or higher is required for all prerequisite courses.

Course Description

This course explores partner distributions, taxable and non-taxable income from partnership Schedule K-1s, differences between Publicly Traded Partnerships and others, limitations on Limited Partners, treatment of Passive Activity Losses, basis, recourse and non-recourse debt. The course will include the review of the foreign tax credit, itemized deductions, and foreign bank reporting requirements under the current tax laws. Students will learn what forms must be filed, when forms are due, where to file the forms, as well as the ethical requirements and civil and criminal penalties that may be assessed for non-compliance. [CPE Hours: CPA 8; EA, CTEC 6]

Units: 0.5
Degree Credit
Pass/No Pass Only
  • Lecture hours/semester: 8-9
  • Homework hours/semester: 16-18
Prerequisites: None
Corequisites: None
Transfer Credit: CSU