A copy of the partnership agreement and any amendments.
- copies of the past five years tax returns.
- A list of the assets and liabilities of the partnership as of the date of value.
- Real estate appraisals.
- Brokerage statements.
- Copies of notes receivable.
- Information on any sub-partnerships.
- Information on any oil & gas holdings.
- Biographical information on the General Partners.
- Education, work history, etc.
- Ownership list for the partnership as of the date of value.
- Objectives of the partnership.
- Purpose of the partnership.
- Management objectives (e.g., preservation and appreciation of capital).
- Expected management fees to the General Partner.
- Expected cost of maintaining the partnership (legal, accounting, etc.).
- Distribution expectations (all net income, to cover income taxes, none, other).
- Likelihood of liquidation (not before the end of the stated term, other).
- IRC ยง 754 elections.
- Has one been granted in the past?
- What is the likelihood one will be granted in the future?