Which of the Following Is False Concerning Special Basis Adjustments

question 38

Multiple Choice

Which of the following is false concerning special basis adjustments?

• A) Special basis adjustments are intended to eliminate discrepancies between inside and outside bases.
• B) Special basis adjustment is an annual election made by the partnership.
• C) Special basis adjustments can occur when a new investor purchases a partnership interest.
• D)Special basis adjustments can occur when a partner recognizes a gain or loss from a distribution.

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Definitions:

Dark Triad

A combination of three negative traits: psychopathy, Machiavellianism, and narcissism.

Lack of Empathy

Lack of Empathy describes a person's inability to understand and share the feelings of others.

Machiavellianism

A lack of empathy and a willingness to exploit others.

Chocolate Cake Model

The tendency of a relationship with a narcissist to start positively but end very negatively.