Epstein File EFTA01394101: Asset (DS10)

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💨IMPACT LEVEL 1 — MEH

Epstein File EFTA01394101: Asset (DS10)

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This document contains partnership asset valuation language defining how assets contributed to a partnership are valued for tax purposes. It specifies that carrying value is based on adjusted basis for federal income tax purposes, with initial contributions adjusted to gross fair market value at time of contribution. The document outlines procedures for subsequent adjustments to carrying value of assets within the partnership structure.

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asset

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Excerpt 1

Carrying Value With respect to any **asset**, the asset's adjusted basis for federal income tax purposes; provided, however, that (i) the initial Carrying

Excerpt 2

Value of any **asset** contributed to the Partnership shall be adjusted to equal its gross fair market value at the time of its contribution, and (ii) the

Excerpt 3

The Carrying Value of any **asset** whose Carrying Value was adjusted pursuant to the preceding sentence thereafter shall be adjusted in accordance with the