Partnership Tax Accounting Assessment


Partnership Tax Accounting Assessment


The Partnership Tax Accounting test covers accounting, tax, and strategic issues in partnerships. Specific topical areas include distributing partnership income, amortization, guaranteed payments, and filing partnership returns. The test is appropriate for those applying for positions as a partnership tax accountant. The questions vary between basic, intermediate, and advanced levels.

Tests for Corporate Tax Accounting, Cost Accounting, and Business Income Tax are also available.


Total Questions 44
Question Types Multiple Choice
Competencies Tested Income Tax and Tax Year
Guaranteed Payment, Losses, and Gains
Tasks Tested Filing Bad Debts
Assessing Penalties
Taking Advantage of Deferral
Separately Treated Items
Accident and Health Insurance Premiums
Determining Tax Year
Distributing Partnership Income
Tax Year
Allocating Income and Deductions
Basis of Partner's Interest
Qualifying Start-Up Expenses
Liquidating a Partnership
Conducting an Investing Partnership
Modifying a Partnership Agreement
Decreasing Partner's Basis
Claiming Depreciation
Special Amortization Provision
Viewing a Partnership as a Separate Entity
Amortizing Organization Fees
Distributing Shares of Income
Making Special Allocations
Withdrawing from a Partnership
Classifying LLC and Partnerships
Treating Partner as a Stranger
Paying Insolvent Debts
Categorizing a Partnership
Classifying Partnerships
Payments Resulting in Loss
Guaranteed Payment
Deducting a Disallowed Loss
Sales at Gain
Guaranteed Payments
Making Guaranteed Payment to a Partner
Partner Share of Loss
Losses Allowed or Disallowed
Making Use of Filing Extensions
Knowing Filing Requirements
Choosing Fiscal Year
Substantial Economic Effect
Filing a Partnership Return
Organization and Syndication Fees
Deducting Insurance Premiums
Passive Activity Rules