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Sec. 733 Basis of distributee partner's interest

  • Internal Revenue Code of 1986
  • Chapter 1 -- Normal Taxes and Surtaxes
  • Subchapter K -- Partners and Partnerships
  • Part II -- Contributions, distributions, and transfers
  • Subpart B -- Distributions by a partnership

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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