FEDERAL · 26 U.S.C. · Chapter 1
Basis of distributee partner's interest
Current through Pub. L. 119-102
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 section 732.
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26 U.S.C. § 733 (Basis of distributee partner's interest) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
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Source Credit
History
(Aug. 16, 1954, ch. 736, 68A Stat. 247.)