Farm CPA Report

Farm CPA Report

Share this post

Farm CPA Report
Farm CPA Report
Will Revenue Ruling 2024-14 Apply to Any Farmers
Copy link
Facebook
Email
Notes
More

Will Revenue Ruling 2024-14 Apply to Any Farmers

The IRS is trying to prevent basis shifting between partners. This may apply to some farmers.

Paul Neiffer's avatar
Paul Neiffer
Jun 17, 2024
∙ Paid
2

Share this post

Farm CPA Report
Farm CPA Report
Will Revenue Ruling 2024-14 Apply to Any Farmers
Copy link
Facebook
Email
Notes
More
Share
brown wheat field
Photo by Raphael Rychetsky on Unsplash

The IRS just issued Revenue Ruling 2024-14 dealing with basis shifting among partners.

Basis shifting occurs when a partner has outside basis in their partnership interest that is greater than its inside basis and certain assets are transferred to the partner usually in return for the liquidation of the partnership interest (but not always).

Keep reading with a 7-day free trial

Subscribe to Farm CPA Report to keep reading this post and get 7 days of free access to the full post archives.

Already a paid subscriber? Sign in
© 2025 Farm CPA Report LLC
Privacy ∙ Terms ∙ Collection notice
Start writingGet the app
Substack is the home for great culture

Share

Copy link
Facebook
Email
Notes
More