IRS Private Letter Ruling States That Transfers of 99 Percent Partnership interest Do Not Count for Purposes of Determining Time Between Acquisition and Placed-in-Service

Wednesday, January 19, 2005 - 8:00AM

Transfers of 99 percent partnership interest do not count for purposes of determining whether at least 10 years elapsed between the acquisition of a building and the date the building was last placed in service, according to a recent private letter ruling released by the Internal Revenue Service. Click here for a copy of the ruling.

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