Skip to main content
A Better Partnership


Jun 2020
June 04, 2020
Webinar: IRC 754 Elections for Tax Counsel: Mastering Structuring Considerations of Basis Adjustments

Webinar | Hosted By: Strafford

William C. Lentine, partner at Warner Norcross + Judd, along with another panelist, provided tax counsel with comprehensive guidance on the 754 election for partnerships. They discussed the basis adjustment rules associated with sales, transfers and partnership interests or property distributions; reviewed the impact of the Section 754 election for individual partners and the partnership; and discussed structuring transactions to avoid unintended tax consequences.
The panel also reviewed these and other key issues:
  • Mechanics of making a Section 754 election at the partnership level and understanding “inside basis” vs. “outside basis”
  • Benefits and disadvantages of making the 754 basis election
  • Rules governing step-up and step-down basis adjustments
  • Rules for allocating basis adjustments
  • Impact of the 754 election on individual partners and the partnership
  • Common pitfalls in basis adjustments and what can practitioners do to avoid these pitfalls?

NOTICE. Although we would like to hear from you, we cannot represent you until we know that doing so will not create a conflict of interest. Also, we cannot treat unsolicited information as confidential. Accordingly, please do not send us any information about any matter that may involve you until you receive a written statement from us that we represent you.

By clicking the ‘ACCEPT’ button, you agree that we may review any information you transmit to us. You recognize that our review of your information, even if you submitted it in a good faith effort to retain us, and even if you consider it confidential, does not preclude us from representing another client directly adverse to you, even in a matter where that information could and will be used against you.

Please click the ‘ACCEPT’ button if you understand and accept the foregoing statement and wish to proceed.



+ -