What does inside basis mean on the CPA exam?

Inside basis. The partnership's own tax basis in the assets it holds.

Inside basis. The partnership's own tax basis in the assets it holds.

Defined against Sec. 723.

Which CPA exam sections use inside basis?

Inside basis appears in 6 CPA exam sections: AUD, BAR, FAR, ISC, REG, TCP.

outside basis: A partner's tax basis in the partnership interest itself.
tax basis: What an asset or liability is worth for tax purposes, which is often not what it is worth for accounting.
carryover basis: Basis that follows the property from the previous owner instead of resetting to what was paid.
debt basis: An S corporation shareholder's basis in loans they personally made to the corporation.
adjusted basis: What the taxpayer has invested in property for tax purposes: cost, plus improvements, less depreciation taken.
basis of accounting: The rule for WHEN something is recorded: cash when money moves, accrual when it is earned or incurred, modified accrual somewhere between.