About this Course

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Intermediate Level
Approx. 34 hours to complete
Subtitles: English
Shareable Certificate
Earn a Certificate upon completion
100% online
Start instantly and learn at your own schedule.
Flexible deadlines
Reset deadlines in accordance to your schedule.
Intermediate Level
Approx. 34 hours to complete
Subtitles: English

Offered by

University of Illinois at Urbana-Champaign logo

University of Illinois at Urbana-Champaign

Start working towards your Master's degree

This course is part of the 100% online Master of Science in Accountancy (iMSA) from University of Illinois at Urbana-Champaign. If you are admitted to the full program, your courses count towards your degree learning.

Syllabus - What you will learn from this course


Week 1

1 hour to complete

Introduction to Course

1 hour to complete
2 videos (Total 7 min), 4 readings, 1 quiz
2 videos
About Prof Donohoe2m
4 readings
About the Discussion Forums10m
Update Your Profile10m
Build a Learning Community with Social Media10m
1 practice exercise
Orientation Quiz30m
6 hours to complete

Module 1 Partnership Formation

6 hours to complete
17 videos (Total 61 min), 1 reading, 11 quizzes
17 videos
Lesson 1.1.1 Partnerships4m
Lesson 1.1.2 Legal Framework2m
Lesson 1.1.3 Special Basis Concepts2m
Lesson 1.1.4 Other Issues4m
Lesson 1.2.1 Nonrecognition Provision: Concepts3m
Lesson 1.2.2 Nonrecognition Provision: Applications2m
Lesson 1.3.1 Basis Determination & Holding Period: Concepts4m
Lesson 1.3.2 Basis Determination & Holding Period: Applications8m
Lesson 1.4.1 Nonrecognition Exceptions: Concepts4m
Lesson 1.4.2 Nonrecognition Exceptions: Applications3m
Lesson 1.4.3 Other Issues1m
Lesson 1.5.1 Initial Costs4m
Lesson 1.5.2 Accounting Methods2m
Lesson 1.5.3 Tax Year3m
Lesson 1.5.4 Applications6m
Module 1 Wrap-Up46s
1 reading
Module 1 Overview and Resources10m
11 practice exercises
Lesson 1.1.1 Knowledge Check8m
Lesson 1.1.2 Knowledge Check30m
Lesson 1.1.4 Knowledge Check30m
Lesson 1.2.1 Knowledge Check30m
Lesson 1.3.1 Knowledge Check30m
Lesson 1.4.1 Knowledge Check30m
Lesson 1.4.3 Knowledge Check30m
Lesson 1.5.1 Knowledge Check30m
Lesson 1.5.2 Knowledge Check8m
Lesson 1.5.3 Knowledge Check30m
Module 1 Quiz30m

Week 2

4 hours to complete

Module 2 Partnership Operations

4 hours to complete
13 videos (Total 58 min), 1 reading, 6 quizzes
13 videos
Lesson 2.1.1 Income Measurement & Reporting: Concepts4m
Lesson 2.1.2 Income Measurement & Reporting: Applications3m
Lesson 2.2.1 Partner’s Distributive Share: Concepts5m
Lesson 2.2.2 Partner’s Distributive Share: Applications3m
Lesson 2.3.1 Outside Basis Adjustments: Concepts5m
Lesson 2.3.2 Outside Basis Adjustments: Applications7m
Lesson 2.4 Partners' Deduction for Qualified Business Income9m
Lesson 2.5.1 Partner Loss Limitations: Concepts4m
Lesson 2.5.2 Partner Loss Limitations: Applications5m
Lesson 2.6.1 Related Transactions: Concepts2m
Lesson 2.6.2 Related Transactions: Applications3m
Module 2 Wrap-Up56s
1 reading
Module 2 Overview and Resources10m
6 practice exercises
Lesson 2.1.1 Knowledge Check30m
Lesson 2.2.1 Knowledge Check30m
Lesson 2.3.1 Knowledge Check30m
Lesson 2.5.1 Knowledge Check30m
Lesson 2.6.1 Knowledge Check30m
Module 2 Quiz30m

Week 3

5 hours to complete

Module 3 Partnership Distributions

5 hours to complete
18 videos (Total 76 min), 1 reading, 8 quizzes
18 videos
Lesson 3.1.1 Concepts I8m
Lesson 3.1.2 Applications I2m
Lesson 3.1.3 Concepts II3m
Lesson 3.1.4 Applications II7m
Lesson 3.2.1 Concepts I5m
Lesson 3.2.2 Applications I2m
Lesson 3.2.3 Concepts II2m
Lesson 3.2.4 Applications II2m
Lesson 3.2.5 Concepts III1m
Lesson 3.2.6 Applications III8m
Lesson 3.2.7 Concepts IV2m
Lesson 3.2.8 Applications IV11m
Lesson 3.2.9 Concepts V57s
Lesson 3.2.10 Applications V6m
Lesson 3.3.1 Disproportionate Distributions: Concepts2m
Lesson 3.3.2 Disproportionate Distributions: Applications2m
Module 3 Wrap-Up1m
1 reading
Module 3 Overview and Resources10m
8 practice exercises
Lesson 3.1.1 Knowledge Check30m
Lesson 3.1.3 Knowledge Check30m
Lesson 3.2.1 Knowledge Check30m
Lesson 3.2.3 Knowledge Check30m
Lesson 3.2.5 Knowledge Check30m
Lesson 3.2.7 Knowledge Check30m
Lesson 3.3 Knowledge Check30m
Module 3 Quiz30m

Week 4

3 hours to complete

Module 4 Partnership Sales and Terminations

3 hours to complete
13 videos (Total 39 min), 1 reading, 6 quizzes
13 videos
Introduction to Sale of Partnership Interest2m
Lesson 4.1.1 Seller Concepts2m
Lesson 4.1.2 Seller Applications4m
Lesson 4.1.3 Buyer Concepts1m
Lesson 4.1.4 Buyer Applications2m
Lesson 4.2.1 Special Basis Adjustment: Concepts6m
Lesson 4.2.2 Special Basis Adjustment: Applications3m
Lesson 4.3.1 Other Dispositions: Concepts4m
Lesson 4.3.2 Other Dispositions: Applications1m
Lesson 4.4.1 Partnership Termination: Concepts5m
Lesson 4.4.2 Partnership Termination: Applications1m
Module 4 Wrap-Up1m
1 reading
Module 4 Overview and Resources10m
6 practice exercises
Lesson 4.1.1 Knowledge Check30m
Lesson 4.1.3 Knowledge Check30m
Lesson 4.2.1 Knowledge Check30m
Lesson 4.3.1 Knowledge Check30m
Lesson 4.4.1 Knowledge Check8m
Module 4 Quiz12m



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About the U.S. Federal Taxation Specialization

This Specialization introduces the U.S. federal tax system via conceptual and applied material. Learners will be able to apply basic principles to settings involving individuals, corporations, and other business entities, complete key components of major, individual U.S. federal tax returns, and identify tax-related strategies and implications of structuring transactions and organizations....
U.S. Federal Taxation

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