This is a comprehensive outline of partnership tax law with a focus on the statutes of Subchapter K.

This course was taught by Prof. Ethan Yale without a case book, and the primary course materials were the statutes and the Cunningham & Cunningham "Logic of Subchapter K" hornbook.

Topics covered include:

• Choice of entity (C vs S vs K)

• partnership formation

• inside and outside basis

• capital accounting

• substantial economic effect

• character of gain and loss

• non-recourse deductions

• partnership minimum gain

• partnership losses and liabilities

• and the intricacies of Sections 704 and 707.