Navigating Secs. 743 and 734 in the Current Economy - The Tax …
https://www.thetaxadviser.com:443/issues/2009/may/navigatingsecs743and734inthecurrenteconomy.html
Substantial Built-In Loss Under Sec. 743Substantial Basis Reduction Under Sec. 734Required Disclosure of Sec. 743(b) and 734(B) AdjustmentsSec. 743(E) Exception For EIPSWhat Partnerships Qualify as EIPs?How The EIP Election Is MadeReporting RequirementsConclusionPartnerships are required to disclose that they have made a Sec. 743(b) or 734(b) adjustment on Form 1065, U.S. Return of Partnership Income, Schedule B, line 12c. In addition, the regulations and Form 1065 instructions require the partnership to attach a statement to the return showing the computation and allocation of the basis adjustment. The st...See more on thetaxadviser.com Partnerships are required to disclose that they have made a Sec. 743(b) or 734(b) adjustment on Form 1065, U.S. Return of Partnership Income, Schedule B, line 12c. In addition, the regulations and Form 1065 instructions require the partnership to attach a statement to the return showing the computation and allocation of the basis adjustment. The st...
Partnerships are required to disclose that they have made a Sec. 743(b) or 734(b) adjustment on Form 1065, U.S. Return of Partnership Income, Schedule B, line 12c. In addition, the regulations and Form 1065 instructions require the partnership to attach a statement to the return showing the computation and allocation of the basis adjustment. The st...
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