WebAug 9, 2024 · On July 31, 2024, the Internal Revenue Service issued proposed regulations regarding taxation of an “Applicable Partnership Interest” or API, under Internal Revenue Code (IRC) section 1061, clarifying and elaborating on the taxation of API (including items such as carried interest). In 2024, under what is commonly known as the … WebSection 1061 provides an exception for gain with respect to “capital interests” (generally understood to mean gain earned with respect to invested capital). The Proposed …

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