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Happy Halloween: Partnership “Disguised Sales” (Get It?)

By Farrell Fritz P.C. on October 31, 2016
Posted in Federal Tax Issues

What Is It?

Disguised SaleAssume that X and Y agree to the following: X will transfer ownership of Prop to Y, and Y will transfer cash to X.

What just happened? No, this is not a trick question. Obviously, X has sold Prop to Y. If the amount of cash that X receives is greater than…

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