Today, most men wear a thin to moderately thick mustache with the beard, which is not waxed to curl upward. No hair is grown on the cheeks, so it is not a full beard. Ad. The Van Dyke is a variation of the goatee, and some also refer to the classic goatee with this name. Hair worn only on the chin may also be called a chin beard if it is very long.
A partner's basis is increased by the following items. 1  The partner's additional contributions to the partnership, including an increased share of or assumption of partnership liabilities. 2  The partner's distributive share of taxable and nontaxable partnership income.
Example (2) X and Y form a partnership. X contributes all of the property with. a basis of $10 million, but with a current fair market value of $2. million, to the partnership in exchange for a 99% profits interest. in the partnership (Y has a 1% profits interest as service partner, but contributes no capital).