26 U.S.C. § 754
Manner of electing optional adjustment to basis of partnership property
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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Cited by 57
- 26 CFR § 1.1045-1 — Application to partnerships.
- 26 CFR § 1.1245-1 — General rule for treatment of gain from dispositions of certain depreciable property.
- 26 CFR § 1.1245-2 — Definition of recomputed basis.
- 26 CFR § 1.1250-1 — Gain from dispositions of certain depreciable realty.
- 26 CFR § 1.1250-3 — Exceptions and limitations.
- 26 CFR § 1.1400L(b)-1 — Additional first year depreciation deduction for qualified New York Liberty Zone property.
- 26 CFR § 1.1400Z2(b)-1 — Inclusion of gains that have been deferred under section 1400Z-2(a).
- 26 CFR § 1.1400Z2(c)-1 — Investments held for at least 10 years.
- 26 CFR § 1.1446-2 — Determining a partnership's effectively connected taxable income allocable to foreign partners under section 704.
- 26 CFR § 1.1502-13 — Intercompany transactions.
- 26 CFR § 1.163(j)-6 — Application of the section 163(j) limitation to partnerships and subchapter S corporations.
- 26 CFR § 1.168(k)-0 — Table of contents.
Show 45 more
- 26 CFR § 1.168(k)-1 — Additional first year depreciation deduction.
- 26 CFR § 1.168(k)-2 — Additional first year depreciation deduction for property acquired and placed in service after September 27, 2017.
- 26 CFR § 1.197-1T — Certain elections for intangible property (temporary).
- 26 CFR § 1.197-2 — Amortization of goodwill and certain other intangibles.
- 26 CFR § 1.199A-2 — Determination of W-2 wages and unadjusted basis immediately after acquisition of qualified property.
- 26 CFR § 1.250(b)-2 — Qualified business asset investment (QBAI).
- 26 CFR § 1.337(d)-3 — Gain recognition upon certain partnership transactions involving a partner's stock.
- 26 CFR § 1.362-3 — Basis of importation property acquired in loss importation transaction.
- 26 CFR § 1.362-4 — Basis of loss duplication property.
- 26 CFR § 1.460-4 — Methods of accounting for long-term contracts.
- 26 CFR § 1.58-2 — General rules for conduit entities; partnerships and partners.
- 26 CFR § 1.59A-0 — Table of contents.
- 26 CFR § 1.59A-7 — Application of base erosion and anti-abuse tax to partnerships.
- 26 CFR § 1.6011-18 — Certain partnership related-party basis adjustment transactions as transactions of interest.
- 26 CFR § 1.6031(c)-1T — Nominee reporting of partnership information (temporary).
- 26 CFR § 1.613A-3 — Exemption for independent producers and royalty owners.
- 26 CFR § 1.701-2 — Anti-abuse rule.
- 26 CFR § 1.704-1 — Partner's distributive share.
- 26 CFR § 1.704-4 — Distribution of contributed property.
- 26 CFR § 1.705-2 — Basis adjustments coordinating sections 705 and 1032.
- 26 CFR § 1.708-1 — Continuation of partnership.
- 26 CFR § 1.731-2 — Partnership distributions of marketable securities.
- 26 CFR § 1.732-1 — Basis of distributed property other than money.
- 26 CFR § 1.732-2 — Special partnership basis of distributed property.
- 26 CFR § 1.734-1 — Optional adjustment to basis of undistributed partnership property.
- 26 CFR § 1.734-2 — Adjustment after distribution to transferee partner.
- 26 CFR § 1.736-1 — Payments to a retiring partner or a deceased partner's successor in interest.
- 26 CFR § 1.737-1 — Recognition of precontribution gain.
- 26 CFR § 1.737-3 — Basis adjustments; Recovery rules.
- 26 CFR § 1.743-1 — Optional adjustment to basis of partnership property.
- 26 CFR § 1.751-1 — Unrealized receivables and inventory items.
- 26 CFR § 1.752-7 — Partnership assumption of partner's § 1.752-7 liability on or after June 24, 2003.
- 26 CFR § 1.754-1 — Time and manner of making election to adjust basis of partnership property.
- 26 CFR § 1.755-1 — Rules for allocation of basis.
- 26 CFR § 1.884-1 — Branch profits tax.
- 26 CFR § 1.901(m)-2 — Covered asset acquisitions and relevant foreign assets.
- 26 CFR § 1.901(m)-4 — Determination of basis difference.
- 26 CFR § 1.951A-3 — Qualified business asset investment.
- 26 CFR § 301.6231(a)(3)-1 — Partnership items.
- 26 CFR § 301.6241-1 — Definitions.
- 26 CFR § 301.9100-2 — Automatic extensions.
- 26 U.S.C. § 732 — Basis of distributed property other than money
- 26 U.S.C. § 734 — Adjustment to basis of undistributed partnership property where section 754 election or substantial basis reduction
- 26 U.S.C. § 743 — Special rules where section 754 election or substantial built-in loss
- 26 U.S.C. § 901 — Taxes of foreign countries and of possessions of United States
Nearby sections (25 sections)
- 732 · Basis of distributed property other than money
- 733 · Basis of distributee partner’s interest
- 734 · Adjustment to basis of undistributed partnership property where…
- 735 · Character of gain or loss on disposition of distributed property
- 736 · Payments to a retiring partner or a deceased partner’s successor…
- 737 · Recognition of precontribution gain in case of certain…
- 741 · Recognition and character of gain or loss on sale or exchange
- 742 · Basis of transferee partner’s interest
- 743 · Special rules where section 754 election or substantial built-in…
- 751 · Unrealized receivables and inventory items
- 752 · Treatment of certain liabilities
- 753 · Partner receiving income in respect of decedent
- 754 · Manner of electing optional adjustment to basis of partnership…
- 755 · Rules for allocation of basis
- 761 · Terms defined
- 771 · Repealed. Pub. L. 114–74, title XI, § 1101(b)(1), Nov. 2, 2015,…
- 801 · Tax imposed
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- 805 · General deductions
- 806 · Repealed. Pub. L. 115–97, title I, § 13512(a), Dec. 22, 2017, 131…
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- 809 · Repealed. Pub. L. 108–218, title II, § 205(a), Apr. 10, 2004, 118…
- 810 · Repealed. Pub. L. 115–97, title I, § 13511(b)(1), Dec. 22, 2017,…