26 USC 733: Basis of distributee partner's interest
Text contains those laws in effect on May 5, 2024
From Title 26-INTERNAL REVENUE CODESubtitle A-Income TaxesCHAPTER 1-NORMAL TAXES AND SURTAXESSubchapter K-Partners and PartnershipsPART II-CONTRIBUTIONS, DISTRIBUTIONS, AND TRANSFERSSubpart B-Distributions by a Partnership
Jump To: Source Credit
§733. Basis of distributee partner's interest
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.