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Agree. But my question is still on the reduction of existing partner's capital. Does this reduce the existing partner's basis?
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Thank you for your reply. I am trying to think through this for the past couple of days, and I am still not quite sure I understand all the impacts. 1) The part...
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I have a LLC with multiple partners. One partner's interest was redeemed. Partner was given back his original investment of $200k. But the partner has accumulat...
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Thank you for your reply. But on the Status update, we don't see if the PTE payments went through. We can see the estimated tax payments for each quarter, but n...
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So in this case, it's probably better to elect out of bonus depreciation.
