Understanding Partnership Tax
This is a great book that explains the framework for how partnerships are taxed. It provides a basic overview as well as specifics and intricacies. I was a liberal arts major and I'll tell you that accounting and previous tax knowledge would help, but are not necessary. You need to take a minute to digest the material, but overall it's a very good book that explains fairly complex partnership tax issues. There is some mention of cases, but it's mainly explanation of the code and technical calculations.
Extremely useful
Although the book is geared towards students, I would recommend it to even practicing attorneys (like myself) who need a refresher or who are learning the material for the first time. The book is concise and written in plain English wherever possible (the style is necessarily dense when dealing with the most complex of the material, e.g., nonrecourse deductions).
I have also consulted Gunn and Repetti's Partnership Income Taxation book. I like the Gunn/Repetti book better for a couple topics, but I think The Logic of Subchapter K book is the better one overall. If you find that either book doesn't dig into a point as much as you would like, there is a student edition of the McKee Nelson treatise, too.
Just ok
I took a Tax Conduits (partnerships and s-corps) class this past semester in law school. I picked this supplement up after reading so many positive reviews here on Amazon. I read through a good portion of this and found it only slightly more helpful than my casebook (which was not very helpful). Basically, this a condensed casebook with the standard casebook fluff removed. Perhaps, it's biggest downfall is the lack of examples. What really saved me in his class was the Corp and Pship Tax Supplement (Black Letter Outlines Series). I learned more working with it in 2 weeks than a semester with my casebook and this "guide." Get that one early and use it often.
Logic of Subchapter K
This is the ultimate bible for anyone who needs to learn partnership tax law. It's written in plain English and has many good problems and exercises.
Great sidekick
This book is a good addition to whatever partnership book that you're using. For me, most tax books are hard to understand and I try to buy books that simplify it for me, then I dive into the deep stuff. This is by no means a comprehensive book. I frequently read this book, reference the Partnership in a Nutshell book for more clarification, and then reference the Code/Regs. By the time I do that, the Code/Regs are crystal clear.
(14 reviews)
