Arizona § 43-1412 Partner's distributive share

Arizona Statutes

§ 43-1412 — Partner's distributive share

Arizona § 43-1412

Title 43Arizona Revised Statutes

Ch. 14PARTNERSHIPS

Art. 2Taxation of Partnerships

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Bluebook

Ariz. Rev. Stat. Ann. § 43-1412 (2026).

Text

In computing taxable income of each partner, he shall include, whether or not distribution is made to him, his distributive share of the partnership's:

1.Gains and losses from sales or exchanges of capital assets computed pursuant to the internal revenue code.

2.Gains and losses from sales or exchanges of property described in section 1231 of the internal revenue code, relating to certain property used in a trade or business and involuntary conversions.

3.Dividends with respect to which there is provided an exclusion under section 116 or a deduction under subtitle A, chapter 1, subchapter B, part VIII of the internal revenue code.

4.Income taxes imposed by and paid to another state or country.

5.Additional first year depreciation computed pursuant to section 179 of the internal r

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In computing taxable income of each partner, he shall include, whether or not distribution is made to him, his distributive share of the partnership's:

1. Gains and losses from sales or exchanges of capital assets computed pursuant to the internal revenue code.

2. Gains and losses from sales or exchanges of property described in section 1231 of the internal revenue code, relating to certain property used in a trade or business and involuntary conversions.

3. Dividends with respect to which there is provided an exclusion under section 116 or a deduction under subtitle A, chapter 1, subchapter B, part VIII of the internal revenue code.

4. Income taxes imposed by and paid to another state or country.

5. Additional first year depreciation computed pursuant to section 179 of the internal revenue code.

6. Recoveries of bad debts, prior taxes and delinquency amounts pursuant to section 111 of the internal revenue code.

7. Gains and losses from wagering transactions pursuant to section 165(d) of the internal revenue code.

8. Soil and water conservation expenditures pursuant to section 175 of the internal revenue code.

9. Nonbusiness expenses as described in section 212 of the internal revenue code.

10. Expenses for care of certain dependents pursuant to section 214 of the internal revenue code.

11. Payments pursuant to section 215 of the internal revenue code.

12. Amounts representing taxes and interest paid to cooperative housing corporations pursuant to section 216 of the internal revenue code.

13. Intangible drilling and development costs pursuant to section 263(c) of the internal revenue code.

14. Certain mining exploration expenditures pursuant to section 617 of the internal revenue code.

15. Income, gain or loss to the partnership under section 751(b) of the internal revenue code.

16. Any items of income, gain, loss or deduction subject to a special allocation under the partnership agreement which differs from the allocation of partnership taxable income or loss generally.

17. Arizona taxable income.