IRS PLR: Extension Granted to Elect Adjustment to Partnership Property Basis (IRC §754)

The IRS has published a private letter ruling on I.R.C. §754 and Treas. Reg. §301.9100, granting 120-day extension to elect an adjustment to partnership’s property basis. [PLR 202547008]

This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.