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.
Wherefore. For which reason. The term wherefore is frequently used in an averment (a positive statement of fact set out in the pleadings that must be filed with a court by the parties to a legal action)âfor example, wherefore the defendant says that such contract was and is void. See: basis, consequently, reason