Title
2-ABR
By
Al Gillies
Description
Tax Lawyer, Vol. 57, No. 2 THE SECTION 734(b) BASIS ADJUSTMENT NEEDS REPAIR 343 343 THE SECTION 734(b) BASIS ADJUSTMENT NEEDS REPAIR Howard E. Abrams* I. INTRODUCTION The partnership tax provisions—Subchapter K of the Internal Revenue Code— work pretty well. Those provisions have a difficult job of providing a reasonable mechanism for taxing arrangements between parties that can be far from off-theraack It should not be difficult to figure out how to tax two individuals who contribute equal...

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