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26 U.S.C. 733: Basis of distributee partner’s interestText contains those laws in effect through Public Law 119-120 (October 7, 2026).
From Title 26-INTERNAL REVENUE CODECHAPTER 1-NORMAL TAXES AND SURTAXES
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§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.

( Aug. 16, 1954, ch. 736 , 68A Stat. 247 .)