Fundamentals of Partnership Taxation

by Stephen Schwarz, Stephen A. Lind, Daniel J. Lathrope

The Eighth Edition of this leading casebook continues the tradition of teaching the fundamentals of a highly complex subject through the use of clear and concise explanatory text, skillfully drafted problems, and a selective mix of original source materials to accompany the Code and regulations. It incorporates all new developments and refines or eliminates some materials from earlier editions that have become less relevant to contemporary practice. Important highlights Full coverage, with examples and revised problems, of all significant amendments to Subchapter K made by the American Jobs Creation Act of 2004, with particular emphasis on new statutory rules to prevent transfers and duplication of partnership losses. A chapter on S corporations, reflecting the more permissive eligibility requirements and other new statutory rules. Discussion of the impact of recent tax legislation on choice of business entity, including analysis of I.R.S. data on current trends. A recent published ruling on partnership mergers and terminations and summaries of other new partnership tax cases and rulings. Explanations of the policies underlying the statutory rules as well as the technical details.

473 pages, Hardcover

First published July 1, 1985

About the author

Professor Stephen Schwarz, a native of Summit, New Jersey, received his B.A. from Brown University and his J.D. from Columbia Law School. From 1969 to 1973, he was an attorney with the U.S. Department of Justice in Washington, D.C., where he litigated tax cases and observed (from afar) various impeachable offenses.

In 1974, after a year in private practice, Professor Schwarz joined the faculty of the University of San Francisco School of Law. He also has taught as a Visiting Professor in the graduate tax programs at the University of Florida College of Law and New York University School of Law, and at UCLA School of Law and Arizona State University College of Law. He joined the UC Hastings faculty in 1981 and was Associate Academic Dean from 1983 to 1985.

Professor Schwarz is the coauthor of several law school casebooks, including Fundamentals of Corporate Taxation and Fundamentals of Partnership Taxation (with Lind, Lathrope, and Rosenberg), and Nonprofit Organizations (with Fishman).

Professor Schwarz lives in Marin County and maintains vacation homes at Stanford’s Roscoe Maples Pavilion, Oakland’s McAfee Coliseum, and Phoenix Municipal Stadium. His hobbies do not include hiking, golf, cats, fly fishing, or public choice theory, or repeal of the federal estate tax.

Reviews

[Ksc]

Having spent an entire fall with this book I will never give it up. Riveting reading w/ witty terminology and one-liners, e.g., referring to debt as "A fiscal utopia that has yet to be achieved", sole proprietorships as "tax-nothing's" and certain court ruling passages as "now classic excerpt"s. The laughs go on and on in this comprehensive picture of formation, operation and liquidation of partnerships. BONUS: at the end you get the entire picture of flow-throughs with an entire chapter on S-corps. A must read for anyone interested in these "tax-something's".

[Justin Camblin]

Everything you could ever want to know about how the United States taxes partnerships.