[[thanks for your answer on PTP. But it was the first time I did not understand what you've said. The recapture I mentioned will result from depreciation of assets deduction, which made reportable taxable income much less than actual distribution.]]Right...at the partnership level...which was passed through to you. BUT...YOUR basis in the partnership is much different (at least potentially) than depreciation capture issues. Just because YOU sell (or donate) your interest in the stock, there are not necessarily any "recapture" issues for you to deal with at the personal level. That is why PTPs are much different than regular stocks...and require additional knowledge on how partnership taxation actually works...especially at the partner level. That's really the best that I can explain it. IRS Publication 541 will explain it in more detail (and with many more words), so I would suggest that you take the time to read it. You may well find it confusing, but it's really the best information that you can get regarding partnership issues. Sorry for the limited response, but you'll need a much broader backround before we can really discuss specific (and more technical issues).TMF TaxesRoy
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