Partnerships Can Use Special Allocations to Shift Built-In Gains and Built-In

question 88

True/False

Partnerships can use special allocations to shift built-in gains and built-in losses on contributed property from a partner who contributed the property to other partners.

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Definitions:

Rehabilitation Act

United States legislation aimed at protecting individuals with disabilities from discrimination in programs receiving federal financial assistance, enacted in 1973.

Discrimination

Unjust or prejudicial treatment of different categories of people, especially on the grounds of race, age, sex, or disability, leading to inequality and social tension.

Federal Government

The national government of a federation, responsible for enacting and enforcing laws applicable throughout the entire country.