2016 US Code
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 A - Contributions to a Partnership
Sec. 722 - Basis of contributing partner's interest
| 26 U.S.C. § 722 (2016) |
| §722. Basis of contributing partner's interest |
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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. |
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(Aug. 16, 1954, ch. 736, 68A Stat. 245; Pub. L. 94–455, title XXI, §2131(c), Oct. 4, 1976, 90 Stat. 1924; Pub. L. 98–369, div. A, title VII, §722(f)(1), July 18, 1984, 98 Stat. 974.) |
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AMENDMENTS
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". EFFECTIVE DATE OF 1984 AMENDMENTPub. L. 98–369, div. A, title VII, §722(f)(2), July 18, 1984, 98 Stat. 974, provided that: "The amendments made by paragraph (1) [amending this section and section 723 of this title] shall take effect as if included in the amendments made by section 2131 of the Tax Reform Act of 1976 [Pub. L. 94–455]." EFFECTIVE DATE OF 1976 AMENDMENTFor effective date of amendment made by Pub. L. 94–455, see section 2131(f)(3)–(5) of Pub. L. 94–455, set out as a note under section 721 of this title. |
| United States Code, 2012 Edition, Supplement 4, Title 26 - INTERNAL REVENUE CODE |
| Bills and Statutes |
| United States Code |
| Y 1.2/5: |
| 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 A - Contributions to a Partnership Sec. 722 - Basis of contributing partner's interest |
| section 722 |
| 2016 |
| January 6, 2017 |
| No |
| standard |
| 90 Stat. 1924 98 Stat. 974 |
| Public Law 94-455, Public Law 98-369 |
