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.
What is ABATEMENT? 1. Commerce: a reduction in the amount of a bill due to factors such as demurrage, overtime penalty, or rent. 2. Environment: to reduce or eliminate polluting or hazardous substances. This is done by removing them or considering a new plan of more efficient waste management.