26 U.S. Code § 705 - Determination of basis of partner’s interest
The Secretary shall prescribe by regulations the circumstances under which the adjusted basis of a partner’s interest in a partnership may be determined by reference to his proportionate share of the adjusted basis of partnership property upon a termination of the partnership.
1984—Subsec. (a)(3). Pub. L. 98–369 substituted “for any partnership oil and gas property to the extent such deduction does not exceed the proportionate share of the adjusted basis of such property allocated to such partner under section 613A(c)(7)(D)” for “under section 611 with respect to oil and gas wells”.
1976—Subsec. (a)(3). Pub. L. 94–455, § 2115(c)(3), added par. (3).
Subsec. (b). Pub. L. 94–455, § 1906(b)(13)(A), struck out “or his delegate” after “Secretary”.
Written determinations for this section
These documents, sometimes referred to as "Private Letter Rulings", are taken from the IRS Written Determinations page; the IRS also publishes a fuller explanation of what they are and what they mean. The collection is updated (at our end) daily. It appears that the IRS updates their listing every Friday.
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- Partner's Income v. Partnership Income : 2014-05-23
- Determination of Basis of Partner's Interest : 2014-05-23
- General Rule : 2009-05-22
- Determination of Basis of Partner's Interest : 2009-05-22
- Continuation of Partnership : 2009-05-22
- Division : 2009-05-22
- Partnership Elections : 2009-05-22
- Basis of Acquired Property : 2009-05-22
- Sale or Exchange of an Interest : 1999-09-03
- Adjustments to Basis : 1999-09-03
- Basis of Transferee Partner's Interest : 1999-09-03