beneficiaryâs share of inside basis in partnership assets and his outside basis in the partnership interest. An optional basis adjustment can increase the partnershipâs basis in property transferred upon a partnerâs death to its estate tax value. The Economic Growth
â¢ AVERMENT (noun). The noun AVERMENT has 1 sense: 1. a declaration that is made emphatically (as if no supporting evidence were necessary). Familiarity information: AVERMENT used as a noun is very rare.
Understatement is a figure of speech in which there is a contrast between the description and reality. As such, understatement can be used to reflect modesty, sarcasm, derogatory or complimentary tone. Understatement literally refers to what is not being said. In short, the gravity of the statement is undervalued.