Epstein File EFTA01354581: Asset (DS10)

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💨IMPACT LEVEL 1 — MEH

Epstein File EFTA01354581: Asset (DS10)

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This document contains accounting and tax treatment language regarding asset valuation in a partnership context. It defines 'Carrying Value' as an asset's adjusted basis for federal income tax purposes, with provisions for adjusting the initial carrying value of contributed assets to equal their gross fair market value at contribution time. The excerpt discusses standard accounting procedures for asset valuation adjustments within a 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