Distributions to retiring partners. (part 1): An article from: The Tax Adviser

This digital document is an article from The Tax Adviser, published by American Institute of CPA's on April 1, 1994. The length of the article is 5461 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: Determining the value and characterization of partnership distribution at death or retirement requires distinguishing between goodwill and unrealized receivables and other partnership assets. The character of gain to the departing partner and the partnership and the basis in the remaining partnership interests held by the partnership must be analyzed. The bulk of the partnership distribution will be treated as capital gain, except for hot assets, if capital was a factor in the partnership's income production. The payment for the departing partner's goodwill may be amortizable by the remaining partnership.

Citation Details
Title: Distributions to retiring partners. (part 1)
Author: Robert W. Jamison
Publication:The Tax Adviser (Magazine/Journal)
Date: April 1, 1994
Publisher: American Institute of CPA's
Volume: 25 Issue: n4 Page: 235(9)

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