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.
To avert is to turn away or to prevent. You might avert your gaze or avert a disaster â either way, you are avoiding something. The verb avert comes from Latin roots that mean to turn away from.. Averting has that sense of deflecting, turning away, or preventing something (usually bad) from happening. You might put salt on an icy sidewalk to avert accidents, or you might avert a toddler's meltdown by supplying a lollipop.