Friday, April 21, 2006

Studying Partnership Taxation

Today is the last day prior to the start of the finals period that I will be studying partnership tax. And so here is some wisdom from the Treasury Department:

A partner's share of any decrease in partnership minimum gain resulting from a revaluation of partnership property equals the increase in the partner's capital account attributable to the revaluation to the extent the reduction in minimum gain is caused by the revaluation.

Yep.

3 Comments:

Blogger xyzzy69 said...

Oh, yea? Prove it.

4:32 PM  
Blogger Fishfrog said...

I find that the Treasury Regs are better if taken on faith. You don't so much prove them as simply feel them to be true and correct.

11:37 AM  
Blogger Xeno said...

I coulda' told ya that

3:19 PM  

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