26 U.S. Code § 722 - Basis of contributing partner’s interest
The basis of an interest in a partnership acquired by a contribution of property, including money, to the partnership shall be the amount of such money and the adjusted basis of such property to the contributing partner at the time of the contribution increased by the amount (if any) of gain recognized under section 721(b) to the contributing partner at such time.
1984—Pub. L. 98–369 inserted “under section 721(b)” after “gain recognized”.
1976—Pub. L. 94–455 inserted “increased by the amount (if any) of gain recognized to the contributing partner at such time” after “at the time of the contribution”.
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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- Termination : 2006-02-10
- Associations v. Corporations : 2006-02-10
- Nonrecognition of Gain or Loss on Contributions : 2006-02-10
- Basis of Property Contributed to Partnership : 2006-02-10
- Basis of Contributing Partner's Interest : 2006-02-10
- Holding Period of Capital Assets : 2003-11-07
- Nonrecognition of Gain or Loss on Contributions : 2003-11-07
- Continuation of Partnership : 2003-11-07
- Basis of Contributing Partner's Interest : 2003-11-07
- Termination : 2002-04-05
- Nonrecognition of Gain or Loss on Contributions : 2002-04-05
- Partnerships v. Associations : 2002-04-05
- General Business Credit : 2002-04-05
- Partner's Distributive Share : 2002-04-05
- Terms Defined : 2002-04-05
- Basis of Property Contributed to Partnership : 2002-04-05
- Basis of Contributing Partner's Interest : 2002-04-05
- Income and Credits of Partner : 2002-04-05
- Empowerment Zone Employment Credit : 2002-04-05
- Stock Dividends : 2001-06-22
- Nonrecognition of Gain or Loss on Contributions : 2001-06-22
- Taxability of Corporation on Distribution : 2001-06-22
- Deduction Of Taxes, Interest, And Business Depreciation By Cooperative Housing Corporation Tenant-Stockholder : 2001-06-22
- Basis of Property Contributed to Partnership : 2001-06-22
- Basis of Contributing Partner's Interest : 2001-06-22
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