Discussion:Technical Termination & New Basis

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Revision as of 23:31, 29 October 2009
ThinkTax (Talk | contribs)
(Jfishman - See R)
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RoyDaleOne (Talk | contribs)
(Locate the book)
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{{ForumReplyPost|UserID=ThinkTax|Date=29 October 2009|Text=Jfishman - See Rev Rul 99-6, it should answer your questions.}} {{ForumReplyPost|UserID=ThinkTax|Date=29 October 2009|Text=Jfishman - See Rev Rul 99-6, it should answer your questions.}}
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 +{{ForumReplyPost|UserID=RoyDaleOne|Date=30 October 2009|Text=Locate the book on LLCs I have referred many times.}}

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Discussion Forum Index --> Tax Questions --> Technical Termination & New Basis

Jfishman (talk|edits) said:

29 October 2009
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?

ThinkTax (talk|edits) said:

29 October 2009
Jfishman - See Rev Rul 99-6, it should answer your questions.

RoyDaleOne (talk|edits) said:

30 October 2009
Locate the book on LLCs I have referred many times.
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