How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Mark Taylor Your Own Question
Mark Taylor
Mark Taylor, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 1669
Experience:  Certified Public Accountant
93680669
Type Your Tax Question Here...
Mark Taylor is online now
A new question is answered every 9 seconds

Taxpayer is redeeming his partnership interest, does

Customer Question

Taxpayer is redeeming his partnership interest, does depreciation recapture come into play here?
Submitted: 9 months ago.
Category: Tax
Expert:  Mark Taylor replied 9 months ago.

Hi, my name is Mark. I will be happy to help you with your question. Yes, depreciation recapture would come into play. Does the partnership report on the cash basis?

Expert:  Mark Taylor replied 9 months ago.

Here is a good article that discusses the sale or redemption of partnership interests.

http://www.forbes.com/sites/anthonynitti/2014/05/27/tax-geek-tuesday-hot-assets-and-the-sale-of-partnership-interests/#2828809a7f98

Related Tax Questions