Search results with tag "Applying the 754"

IRC Section 743(b) Basis Adjustments: Applying the 754 ...

Dec 15, 2015 · D. Benefit of Partnership Taxation: By making a Code Section 754 election, the partnership tax law allows the “outside basis” and the “inside basis” to be equal. What this means is the following: If the partnership were liquidated for cash immediately after the event causing the Section 754 election for an amount equal to the outside tax

  Applying, Adjustment, Election, 754 election, Applying the 754