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.
An understatement is a figure of speech that intentionally underplays the thing you're talking about. For example, if there's a severe rainstorm outside, and you say, it's a little bit damp-that's an understatement. You're really downplaying what's actually happening.