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Target Allocations for the Rest of Us
Contains material from Aug 2020
Target Allocations for the Rest of Us
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Target Allocations are widely used to allocate partnership income and loss in a manner that causes the partners’ capital accounts to match, if possible, the amount the partners should receive if the partnership liquidated and distributed its assets to the partners. But there is no IRS guidance as to whether the use of Target Allocations is an acceptable partnership allocation method. Examine in non-technical terms why Target Allocations are used, how they work, and whether they should be an acceptable allocation method.
Includes: Video Audio Paper Slides
- Total Credit Hours:
- 0.75
- Credit Info
- TX, CA
- Specialization: Civil Appellate Law | Civil Trial Law | Tax Law
- TX MCLE credit expires: 8/31/2024
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Target Allocations for the Rest of Us (Aug 2020)
Dan G. Baucum, William D. Elliott
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0.75
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Target Allocations for the Rest of Us (Aug 2020)
Target Allocations are widely used to allocate partnership income and loss in a manner that causes the partners’ capital accounts to match, if possible, the amount the partners should receive if the partnership liquidated and distributed its assets to the partners. But there is no IRS guidance as to whether the use of Target Allocations is an acceptable partnership allocation method. Examine in non-technical terms why Target Allocations are used, how they work, and whether they should be an acceptable allocation method.
Originally presented: Jul 2020 LLCs, LPs and Partnerships
Dan G. Baucum,
Daniel Baucum Law PLLC - Dallas, TX
William D. Elliott,
Elliott, Thomason & Gibson, LLP - Dallas, TX