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Business & farm
Any member that would have had a Section 754 election and Section 743 adjustment made for inside basis, would have a separately computed figure on their specific K-1. These adjustments are specific to the member, and as a result, are only reflected on their individual K-1.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
Also keep in mind the date of replies, as tax law changes.
March 31, 2023
1:06 PM