Sample 754 election

[IrwinWeissman]

Looking for a "sample" 754 election document where an existing LLC member buys out an existing member's partnership interest, in excess of their capital basis, and the partnership books the excess to goodwill.

[Lion]

https://www.lawinsider.com/clause/section-754-election

Or just add the items the IRS requests: https://www.federalregister.gov/docu...tion-statement
The statement must include (1) the name and address of the partnership, and (2) a declaration that the partnership elects under IRC Section 754 to apply the provisions of IRC Sections 734(b) and 743(b).

https://www.irs.gov/businesses/partnerships/faqs-for-internal-revenue-code-irc-sec-754-election-and-revocation