Section 754 Elections: How and When to Make Them

dc.contributor.author Harl, Neil
dc.contributor.department Iowa State University Digital Repository
dc.date 2018-02-19T06:24:23.000
dc.date.accessioned 2020-06-29T22:57:26Z
dc.date.available 2020-06-29T22:57:26Z
dc.date.embargo 2017-12-18
dc.date.issued 2013-03-01
dc.description.abstract <p>One of the uniquenesses of the partnership form of business organization is the opportunity to make an election for a new partner (as to the purchase price if above the income tax basis), or the successor to a deceased partner (as to the excess of the new income tax basis at death over the pro rata share of the basis of partnership property) and to distributions of property by the partnership, to adjust the basis of partnership property to apply to property distributions by the partnership and to transfers of interests in the partnership.<strong>1 </strong>A corporation, by contrast, provides no opportunity to adjust the “internal” basis of assets as the external basis changes as a result of sale or exchange<strong>2 </strong>or death.<strong>3 </strong>That continues to pose a significant disadvantage for farm and ranch corporations.</p>
dc.identifier archive/lib.dr.iastate.edu/aglawdigest/vol24/iss5/1/
dc.identifier.articleid 2168
dc.identifier.contextkey 11268189
dc.identifier.s3bucket isulib-bepress-aws-west
dc.identifier.submissionpath aglawdigest/vol24/iss5/1
dc.identifier.uri https://dr.lib.iastate.edu/handle/20.500.12876/3695
dc.source.bitstream archive/lib.dr.iastate.edu/aglawdigest/vol24/iss5/1/AgLawDigest_v24n05_01.pdf|||Fri Jan 14 17:52:04 UTC 2022
dc.subject.disciplines Agricultural and Resource Economics
dc.subject.disciplines Agricultural Economics
dc.subject.disciplines Agriculture Law
dc.subject.disciplines Public Economics
dc.title Section 754 Elections: How and When to Make Them
dc.type article
dc.type.genre article
dspace.entity.type Publication
relation.isJournalIssueOfPublication e700ec9d-da84-4a1d-9e9b-f807fd1de61f
relation.isOrgUnitOfPublication d2bcee6c-7cba-4fa7-bd11-543354ce7b1b
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