For flow-through entities, such as partnerships, how does the tax law use partner basis adjustments to prevent
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For flow-through entities, such as partnerships, how does the tax law use partner basis adjustments to prevent double taxation of partnership income?
PartnershipA legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...
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To prevent double taxation the tax law allows partners to increase their basis in the pa...View the full answer
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Related Book For 
Federal Taxation 2016 Comprehensive
ISBN: 9780134104379
29th Edition
Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson
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