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.
Abatement refers generally to a lessening, diminution, reduction, or moderation; specifically, it may refer to: 1  Abatement of debts and legacies, a common law doctrine of wills. 2  Abatement in pleading, a legal defense to civil and criminal actions based purely on procedural and technical issues involving the death of parties.