Constructive partnership terminations and the depreciation antichurning rules
Article Abstract:
The cessation of partnerships is covered by the Uniform Partnership Act (UPA). The applicable provisions of the UPA concerning treatment of depreciation can be found under the antichurning rules of section 168(f)(5). These provisions affect properties and assets purchased after 1986. The advantageous provisions of the depreciation rules can be maximized through the evasion of partnership cessation. If dissolution is unavoidable, numerous exceptions can be cited to circumvent the antichurning rules.
Publication Name: Journal of Partnership Taxation
Subject: Business
ISSN: 0749-4513
Year: 1992
User Contributions:
Comment about this article or add new information about this topic:
New estate freeze rules: tax and business planning impact on partnerships
Article Abstract:
The Revenue Reconciliation Act of 1990 will enforce new estate freeze regulations concerning partnerships which are composed of family members. Tax consultants are advised to consider three important situations in family partnerships. These are buy-and-sell arrangements, capital infusion in partnerships and bankruptcy or death of the general partner. An example of the effects of anti-freeze regulations on partnership processes is presented.
Publication Name: Journal of Partnership Taxation
Subject: Business
ISSN: 0749-4513
Year: 1992
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Acquisition strategy and the market position of acquiring firms. Strategy and structure in multinational corporations: a revision of the Stopford and Wells model
- Abstracts: When a problem turns into a claim. Depreciation - a conceptual problem. Report design: handle with care
- Abstracts: When will the IRS grant relief for an inadvertent termination of an S corporation election? Treasury issues replacement regs. on one class of stock
- Abstracts: Loss disallowance regulations Act III - has the final curtain fallen? Final regulations provide issuers of tax-exempt bonds with guidance on reimbursements
- Abstracts: The economic impacts of a ban on subtherapeutic antibiotics in swine production. An evaluation of hog carcass merit pricing system