Transcription of LB&I Transaction Unit
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LB&I Transaction UnitUnit NameSale of a Partnership InterestPrimary UIL and Character of Gain or Loss on Sale or ExchangeLibrary LevelTitleKnowledge BasePartnership Knowledge BaseShelfDispositions, Divisions and MergersBookDispositionsChapterSale or Exchange of Partnership InterestDocument Control Number (DCN)PAR-T-006 Date of Last Update02/19/21 Note: This document is not an official pronouncement of law, and cannot be used, cited or relied upon as such. Further, this document may not contain a comprehensive discussion of all pertinent issues or law or the IRS's interpretation of current of Contents(View this PowerPoint in Presentation View to click on the links below)General Overview Issue and Transaction Overview Transaction and Fact PatternSummary of Potential Issues Index of Referenced ResourcesTraining and Additional Resou
Tax return preparers normally use one of two methods to record the change of ownership on the Form 1065, Schedule M -2. − In the first method, on lines 2 and 6 of Schedule M-2 the preparers record the change in ownership as a capital contribution and distribution between the …
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