New Tax Regulations Impact Many Partnership Transactions

Law360, New York (January 10, 2017, 3:17 PM EST) -- Jeffrey Goldman

Steven Grob

Robert Nelson The U.S. Treasury Department recently issued several new final, temporary and proposed regulations under code sections 704, 707 and 752 significantly affecting the taxation of many partnership transactions.

For purposes of this discussion, a partnership and its partners includes a limited liability company taxed as a partnership and its members. This article highlights several common situations impacted by the new regulations.

Computation of Partnership Tax Basis and Its Relevance

Several aspects of the new regulations affect the determination of a partner's tax basis in a partnership interest. Before getting into the details of the new...

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