Louisiana § 47:214 Basis of distributee partner's interest

Louisiana Statutes

§ 47:214 — Basis of distributee partner's interest

Louisiana·Title 47 Revenue and Taxation

In the case of a distribution by a partnership to a partner other than in liquidation of a partner's interest, the adjusted basis to such partner of his interest in the partnership shall be reduced (but not below zero) by:

(1)the amount of any money distributed to such partner, and

(2)the amount of the basis to such partner of distributed property other than money, as determined under R.S. 47:213.

Free access — add to your briefcase to read the full text and ask questions with AI

In the case of a distribution by a partnership to a partner other than in liquidation of a partner's interest, the adjusted basis to such partner of his interest in the partnership shall be reduced (but not below zero) by:
(1) the amount of any money distributed to such partner, and
(2) the amount of the basis to such partner of distributed property other than money, as determined under R.S. 47:213.

Louisiana § 47:214 (Basis of distributee partner's interest) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.