Final Regs Address Partnership’s Allocation of Creditable Foreign Tax Expenditures
Final Regs Address Partnership’s Allocation of Creditable Foreign Tax Expenditures Section 743(b) Adjustments In the case of a transfer of a partnership interest that results in an adjustment under Internal Revenue Code Section 743(b) — because the partnership has a Sec. 754 election in effect or because there’s a substantial built-in loss in the partnership … Continued