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Posted by rjskal on March 5, 2008, 12:08 pm
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I've got a client who admitted new partners in '07 at a premium to the
original offering price in '06. Certain existing partners also
contributed capital during the year. This was all accomplished via
dilution, no partner sold an interest.
My initial questions are:
1) Is a 754 election an option?
2) If so, how do 751 assets affect the new partners and existing
partners who contributed capital?
3) Any other issues I should be aware of?
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