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.
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.
posted by Fishfrog at 10:45 AM
1 Comments:
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.
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