Unitizations:

• Unitization where parties elect out of Subchapter K:
  • Unitization agreement;
  • Lawyer for Like-kind exchange treatment;
  • Character of gain or loss;
  • Re-characterization rule;
  • Computational rules; and
  • Basis allocation
• Unitization treated as partnerships:
  • CPA for Taxable exchange of partnership interests;
  • Transfer of property in the formation of a partnership;
  • Basis in partnership interest;
  • Partnership’s basis in the properties;
  • Character of gain to the partner; and
  • Remaining recapture potential
  • Partnership tax 
  • Richardson, TX
  • Tyler, TX

Ryan Gardner, attorney and CPA can help you decipher Oil and Gas taxes and legalities.