2018 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 D - Provisions Common to Other Subparts
Sec. 754 - Manner of electing optional adjustment to basis of partnership property
| 26 U.S.C. § 754 (2018) |
| §754. Manner of electing optional adjustment to basis of partnership property |
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If a partnership files an election, in accordance with regulations prescribed by the Secretary, the basis of partnership property shall be adjusted, in the case of a distribution of property, in the manner provided in section 734 and, in the case of a transfer of a partnership interest, in the manner provided in section 743. Such an election shall apply with respect to all distributions of property by the partnership and to all transfers of interests in the partnership during the taxable year with respect to which such election was filed and all subsequent taxable years. Such election may be revoked by the partnership, subject to such limitations as may be provided by regulations prescribed by the Secretary. |
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(Aug. 16, 1954, ch. 736, 68A Stat. 251; Pub. L. 94–455, title XIX, §1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1834.) |
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AMENDMENTS
1976—Pub. L. 94–455 struck out "or his delegate" after "Secretary" wherever appearing. |
| United States Code, 2018 Edition, 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 D - Provisions Common to Other Subparts Sec. 754 - Manner of electing optional adjustment to basis of partnership property |
| section 754 |
| 2018 |
| January 14, 2019 |
| No |
| standard |
| 90 Stat. 1834 |
| Public Law 94-455 |
