Legal Opinions and Accountant Certifications, Volume 1Practising Law Institute, 1975 - Accountants |
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Page 137
... Basis A Partner's initial basis for his Units is cost . Int . Rev. Code of 1954 ยง 722. Each Partner will increase ( or decrease ) his tax basis in his Units by the amount of his al- lowable share of the Partnership's net income ( or ...
... Basis A Partner's initial basis for his Units is cost . Int . Rev. Code of 1954 ยง 722. Each Partner will increase ( or decrease ) his tax basis in his Units by the amount of his al- lowable share of the Partnership's net income ( or ...
Page 149
... basis of his interest is sufficient . Otherwise such costs will be deductible when a Participant acquires sufficient additional tax basis . Deductible costs paid from retained revenues or assessments will ordinarily be currently deduc ...
... basis of his interest is sufficient . Otherwise such costs will be deductible when a Participant acquires sufficient additional tax basis . Deductible costs paid from retained revenues or assessments will ordinarily be currently deduc ...
Page 150
... basis increase , over the adjusted tax basis of the Partici- pant's interest . ( 14 ) The tax basis of a Participant's interest in the Program will be reduced by his share of cash distributions and net taxable losses and increased by ...
... basis increase , over the adjusted tax basis of the Partici- pant's interest . ( 14 ) The tax basis of a Participant's interest in the Program will be reduced by his share of cash distributions and net taxable losses and increased by ...
Contents
LEGAL OPINIONS AND ACCOUNTANT CERTIFICATIONS | 8 |
The Formal Opinion Letter | 17 |
February 2 1974 | 25 |
Copyright | |
18 other sections not shown
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accepted accounting principles accounting action adviser Agent Agreement allegedly amended amount applicable assets attorney audit Becker behalf certificate client Code common stock Company conduct consolidated corporation counsel criminal damages dealer Debentures December 31 defendants directors Disbarment disclose disclosure documents effect enrolled agent Exchange Commission exemption facts Federal income tax filed financial statements Glen Alden interest Internal Revenue Service investment issued issuer jury lawyer lease liability Limited Partners limited partnership litigation Marder matter McCrory McCrory's ment merger Meshulam Riklis Note Offeree Representative Old Rapid opinion letter person plaintiff preferred stock prior proceedings professional proposed Prospectus purchase purposes pursuant question reasonable Registration Statement regulations respect responsibility Riklis Roth Rule 2(e Schenley Schiffman Section Securities and Exchange securities laws shareholders shares stockholders subsidiaries supra taxable taxpayer tender offer tion transaction Underwriting United unregistered validly Valley receivable violation York