26 U.S.C. § 733

U.S.C. Title 26 - INTERNAL REVENUE CODE
26 U.S.C.

United States Code, 2024 Edition

Title 26 - INTERNAL REVENUE CODE

Subtitle A - Income Taxes

CHAPTER 1 - NORMAL TAXES AND SURTAXES

Subchapter K - Partners and Partnerships

PART II - CONTRIBUTIONS, DISTRIBUTIONS, AND TRANSFERS

Subpart B - Distributions by a Partnership

Sec. 733 - Basis of distributee partner's interest

From the U.S. Government Publishing Office, www.gpo.gov

§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.)

Official source