Account

Sign in to access your account and subscription

IRS Seeks to Regulate Partnership Basis Adjustments

The proposed regulations would disallow basis adjustments in many non-abusive scenarios where those basis adjustments are necessary to achieve tax results that correspond to economic reality.

6 minute read September 01, 2024 at 12:05 AM
By
Ezra Dyckman and Charles S. Nelson
IRS Seeks to Regulate Partnership Basis Adjustments

In many simple cases, a partner's tax basis in their partnership interest (so-called "outside basis") will equal his pro rata share of the partnership's tax basis in its assets (so-called "inside basis").

This premium content is locked for Accounting and Financial Planning for Law Firms subscribers only

ENJOY UNLIMITED ACCESS TO THE SINGLE SOURCE OF OBJECTIVE LEGAL ANALYSIS, PRACTICAL INSIGHTS, AND NEWS IN Accounting and Financial Planning for Law Firms

  • Stay current on the latest information, rulings, regulations, and trends
  • Includes practical, must-have information on copyrights, royalties, AI, and more
  • Tap into expert guidance from top entertainment lawyers and experts

Already have an account? Sign In Now

For enterprise-wide or corporate access, please contact Customer Service at [email protected] or call 1-877-256-2473.

NOT FOR REPRINT

© 2026 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Continue Reading

Artificial intelligence is rapidly embedding itself into legal workflows, but much of the conversation treats all use cases as if they carry the same level of risk, even if they do not. The more useful question is not whether AI works, but where it can be safely applied and where it cannot.

June 01, 2026

There is a difference between deploying AI in an existing workflow and rethinking how legal work gets done. The organizations seeing more fundamental change are the ones redesigning their operating model around what the technology makes possible.

June 01, 2026