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  • 12 years ago
Literally Too Good To Be True-IRS Memorandum on Partnership Transaction - Ed Zollars

Literally Too Good To Be True-IRS Memorandum on Partnership Transaction - Ed Zollars

This PodCast considers an IRS memorandum that argues against the position taken by a taxpayer arguing that his transaction literally complies with Code Sections 731 and 732.  The IRS argued that the transaction, which involved the partnership acquiring a residence for the partner to redeem his interest, actually represented the equivalent of a distribution of cash followed by the purchase of the house--a transaction that would have triggered a significant taxable gain.The materials for this podcast can be downloaded from http://edzollars.com/2007-01-20_Literally_Too_Good.pdf . This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com
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