In previous articles, the collapsible partnership rule has been discussed.  The article below has been prepared by a tax attorney to further our discussion of this rule and provide an example of the rule when partner’s allocation of profits and losses are different.  Many partnership agreements call for special allocations whereby one partner (or multiple...Read More

The collapsible partnership rule has been discussed in previous articles.  The article below is an example of a transaction whereby the collapsible partnership rule would apply.  The example below should help illustrate when the sale of a partnership interest can generate ordinary income and the allocation of basis to determine the amount of ordinary income...Read More

In a previous article drafted by a tax attorney at The McGuire Law Firm, taxation issues upon the sale of a partnership interest were discussed.  The article below has been drafted by a Denver tax attorney to discuss the character of the gain or loss upon the sale of a partnership interest and the Collapsible...Read More