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 employed by writers or speakers to intentionally make a situation seem less important than it really is. For example, you win 10 million dollars in a lottery. When you tell a news reporter âI am delightedâ, you are making an understatement.