26 U.S.C. § 755
Rules for allocation of basis
United States · Title 26 — INTERNAL REVENUE CODE · Status: effective
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- Citation
- 26 U.S.C. § 755, Rules for allocation of basis, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/462691
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Full text
Any increase or decrease in the adjusted basis of partnership property under section 734(b) (relating to the optional adjustment to the basis of undistributed partnership property) or section 743(b) (relating to the optional adjustment to the basis of partnership property in the case of a transfer of an interest in a partnership) shall, except as provided in subsection (b), be allocated—
In applying the allocation rules provided in subsection (a), increases or decreases in the adjusted basis of partnership property arising from a distribution of, or a transfer of an interest attributable to, property consisting of—
In making an allocation under subsection (a) of any decrease in the adjusted basis of partnership property under section 734(b)—
Legislative history
The public laws that enacted or amended this section. Tallies are for the whole bill as it passed each chamber — often an omnibus covering far more than this provision — not a vote on this section alone. The law that originally enacted this section predates the public laws loaded here, so only later amendments are listed.
- Tax Reform Act of 1976House: no recorded tallySenate: no recorded tally
- American Jobs Creation Act of 2004