Accounting for book-tax differences of property contributed to a partnership. (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, 1995. The length of the article is 7336 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: Allocation of gain and loss on property contributed to a partnership must conform with IRC section 704(c) rules when the book value of the property and the partnership's basis in the property differ. Section 704(c) limits the partners ability to allocate tax attributes by requiring that built-in gain and loss in certain property be attributed to the contributing partner. Section 704(c) identifies three methods, the traditional, the traditional with curative allocations and the remedial allocation methods, for accounting for built-in gain and loss in such partnership property.

Citation Details
Title: Accounting for book-tax differences of property contributed to a partnership. (part 1)
Author: Joseph G. Walsh
Publication:The Tax Adviser (Magazine/Journal)
Date: April 1, 1995
Publisher: American Institute of CPA's
Volume: 26 Issue: n4 Page: 195(10)

Distributed by Thomson Gale