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Discussion Forum Index --> Tax Questions --> Technical Termination & New Basis
Jfishman (talk|edits) said:
| 29 October 2009
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| I have a client who wsihes to purchase all interests of a 4 member LLC which own underlying realty. I believe this would result in a 'technical termination of the LLC. My question is: Is the basis to my client in the realty, the cash paid & liabilities assumed or, the LLC book value (cost less deprn) at termination?
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ThinkTax (talk|edits) said:
| 29 October 2009
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| Jfishman - See Rev Rul 99-6, it should answer your questions.
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RoyDaleOne (talk|edits) said:
| 30 October 2009
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| Locate the book on LLCs I have referred many times.
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