This course covers the essential rules and issues for partnership tax allocations. It presents an in-depth analysis of partnership allocations, including how to structure "special allocations" and how to make required Section 704(c) and "reverse" Section 704(c) allocations, and more. Upon completion of this course you should be able to: identify when allocations will be respected under the partner's interest test or substantial economic effect; and determine when Sections 704 (b) and (c) apply and how to allocate such items.