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“Bad Boy, Bad Boy, What Ya Gonna Do?” Claim The Deduction.

By Farrell Fritz P.C. on March 14, 2016
Posted in Federal Tax Issues

Partnership Allocations

A few weeks back we discussed the allocation of a partnership’s income and losses among its partners. Specifically, we considered the requirement that an allocation to a partner must have substantial economic effect if it is to be respected by the IRS. The determination of whether an allocation has substantial economic effect for…

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