When a partner buys out another partner, or a partnership interest is inherited or bought by the partnership itself one of the single best tax maneuvers in the Internal Revenue Code is making the Sec. 754 step up basis election. This election allows the new owner to allocate the purchase price to the assets of the partnership rather than to the capital interest piece of paper. In this course we show you how to make the election, why to make the election and how to allocate the purchase price.
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We explain how and when to use the election. We then illustrate, with examples the calculation and physical election itself, the downsides of the election and timing requirements.
Materials are generally available 3 days in advance of an event. Once you have downloaded the manual, we are unable to cancel your registration.
SUB20523
Registration is open through 05/22.
12:00pm to 2:00pm (Check-In 11:30am)
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May 20, 2024
May 21, 2024