6. In order for special allocations of items of income or deduction to have substantial...
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Accounting
In order for special allocations of items of income or deduction to have substantial economic effect, the capital accounts of the partnership must be properly maintained under the rules of Code Sec. b Under those rules, when someone contributes property, is their capital account increased by its FMV or its basis?
In order for special allocations of items of income or deduction to have substantial economic effect, the capital accounts of the partnership must be properly maintained under the rules of Code Sec. b Under those rules, when someone contributes property, is their capital account increased by its FMV or its basis?
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