Question: The Internal Revenue Code imposes a mandatory basis adjustment for a sale or exchange of a partnership interest if the partnership has a substantial built

The Internal Revenue Code imposes a mandatory basis adjustment for a sale or exchange of a partnership interest if the partnership has a substantial built

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in loss and has no Section

754

optional basis adjustment election in effect. A substantial built

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in loss exists if the partnership's adjusted basis in the property exceeds the FMV of the property by more than what amount?

The Internal Revenue Code imposes a mandatory

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