Examlex
________ is distinguished from the other generational cohorts in that the group's oldest members are now collecting Social Security.
Outside Basis
Refers to a partner's or investor's tax basis in an individual partnership interest or investment, including the initial investment amount plus any additional contributions and adjusted by allocations of income or loss and distributions.
Inside Basis
The cost basis of an asset inside a partnership or other entity, reflecting its original cost plus adjustments.
Recognize Gain
To report the increase in value of an asset when it is sold or disposed of, for tax purposes.
Partnership Basis
The amount invested in a partnership by the partners, used to determine gain or loss upon withdrawal or dissolution of the partnership.
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