26 U.S. Code § 723 - Basis of property contributed to partnership
The basis of property contributed to a partnership by a partner shall be 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”.
Amendment by Pub. L. 98–369 effective as if included in amendments made by section 2131 of the Tax Reform Act of 1976, Pub. L. 94–455, see section 722(f)(2) of Pub. L. 98–369, set out as a note under section 722 of this title.
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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Release dates appear exactly as we get them from the IRS. Some are clearly wrong, but we have made no attempt to correct them, as we have no way guess correctly in all cases, and do not wish to add to the confusion.
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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
- Liability to Which Property is Subject : 2003-08-29
- Nonrecognition of Gain or Loss on Contributions : 2003-08-29
- Transfer to Corporation Controlled by Transferor : 2003-08-29
- In General : 2003-08-29
- Basis to Corporations : 2003-08-29
- Damages : 2003-08-29
- Capital Asset v. Not a Capital Asset : 2003-08-29
- Basis to Distributees : 2003-08-29
- Basis of Property Contributed to Partnership : 2003-08-29
- Property Used in : 2003-08-29
- Stockholders Contributions : 2003-08-29
- Assigned : 2003-08-29
- Control v. No Control : 2003-08-29
- Section 704 c Considerations : 2003-08-29
- 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