Mandatory Allocations. Any allocation of Net Income and Net Loss (or item thereof) for tax purposes which is required to be allocated among the Partners to take into account the disparity between the fair market value of a Partnership asset and its adjusted basis (e.g., allocations under Code Section 704(c) for contributed property) shall be allocated among the Partners in accordance with the requirements of the Code and the regulations promulgated thereunder.
Appears in 1 contract
Sources: Limited Partnership Agreement (Davidson Growth Plus Lp)
Mandatory Allocations. Any allocation of Net Income and Income, Net Loss (or item thereof) depreciation for tax purposes which is required to be allocated among the Partners to take into account the disparity between the fair market value of a Partnership asset and its adjusted basis (e.g., allocations under Code Section 704(c) for contributed property) shall be allocated among the Partners in accordance with the requirements of the Code and the regulations promulgated thereunder.
Appears in 1 contract
Sources: Agreement of Limited Partnership (High Equity Partners L P Series 86)
Mandatory Allocations. Any allocation of Net Income and Income, Net Loss (or item thereof) Depreciation for tax purposes which is required to be allocated among the Partners and Unitholders to take into account the disparity between the fair market value of a Partnership asset and its adjusted basis (e.g., allocations under Code Section 704(c) for contributed property) shall be allocated among the Partners and Unitholders in accordance with the requirements of the Code and the regulations promulgated thereunder.
Appears in 1 contract
Sources: Limited Partnership Agreement (Corporate Realty Income Fund I L P)