Orloff Lowenbach Stifelman & Siegel P.A.

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How to Cure the Failure to Make a Section 754 Election

On November 18, 2010, Alan Kornstein gave a presentation at the "Hot Tips in Taxation" seminar sponsored by the New Jersey Institute for Continuing Legal Education. Alan’s topic focused on planning alternatives available in the situation in which a Section 754 election is inadvertently not made for the taxable year in which a partnership interest is transferred by sale or exchange or upon the death of a partner.