Customer Service: 800-778-7436     

To access your product click the Log In link at the top right of the screen. Once inside your account, you will be able to access your Packages, Self-Study Product, and Webinar Registrations.

Sign In to Your Surgent Account

Forgot Username or Password | Register for an Account

Section 754 Step-Up in Basis: Understanding the Tax Issues for Partnerships and LLCs (S754)

(62)

$89 - $99

Select type

Select course type to add to cart

Add to cart

Easy returns

No hassle refunds and transfers

Interested in bringing this course into your firm? Learn more
When a purchaser buys an existing partner’s partnership interest or the interest of a member of a limited liability corporation (LLC) taxed as a partnership, the amount paid becomes the basis for the purchaser’s partnership interest (outside basis). If the partnership’s assets have appreciated sufficiently, the difference between the new partner’s inside and outside basis can be substantial. This disparity can deprive the new partner of depreciation deductions and inflate his or her share of the gain from subsequent property dispositions unless a Section 754 election is in effect. The Section 754 election can also apply when a partnership makes a distribution of property and the basis of the distributed property to the partnership and the basis the partner/distributee will take in the distributed property are not equal. In this case, a partnership can recover basis it would otherwise lose if the 754 election were not in effect.
loading

Loading...

Loading...

Thank You!

YOU HAVE ADDED THE FOLLOWING TO YOUR CART:


Loading...

Thank You!

Thank You! Your request has been submitted.



Get more value with our CPE packages

Unlimited Webinars

Ideal for professionals who want to engage in interactive courses.

$749

Buy now Learn more

Unlimited Self-Study

Ideal for professionals who want to study their own space.

$549

Buy now Learn more

+Courses not included: ETDE, ETTX, Annual Tax Refresher, Surgent Interactive games and certificate courses. Exclusions may change at any time.

CPE Webinars
CPE Webinars

Thank You!

Thank You! Your subscription has been submitted.