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The 754 election and 743 adjustments are not applicable for SMLLCs. Per Rev Ruling 99-6 when one partner of a MMLLC purchases all of the interest in the LLC it ...
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Yes, that video is incorrect. At 4:55 when she said that her "tax advisor" told her to reduce the basis in the replacement vehicle by the amount of the gain on ...
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That would entirely depend on what code section made the interest deductible.
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Just to be clear on your facts. The taxpayer had physical silver bullion on deposit with a trustee. She then moved the silver from the trustee to her personal p...
