Internal Revenue Code · 26 U.S.C.
§ 723. Basis of property contributed to partnership
Official text, no changes From the Office of the Law Revision Counsel, release point 119-121 (current through Public Law 119-121 (October 9, 2026)). Compare it with the official text at uscode.house.gov (external site).
Cite as 26 U.S.C. § 723
At a glance
Read from the text, the source credit and the official notes. Not part of the law.
- Status
- In force
- Enacted
- October 4, 1976 by Pub. L. 94–455
- Last amended
- July 18, 1984 by Pub. L. 98–369
- Amendments
- 1 dated changes in the source credit
- Length
- 83 words · about 1 min to read
- Cross-references
- cites 1; cited by 0 Code sections and 7 other regulations
- Regulations
- 1 issued under this section
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.
(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.)
Regulations under this section
Treasury regulations (26 CFR) issued under § 723
Cross-references
Computed from the citations in the text of Title 26 and 26 CFR.
This section cites 1 other section
Cited in 7 regulations not issued under it
- § 1.179-4 Definitions.
- § 1.197-2 Amortization of goodwill and certain other intangibles.
- § 1.460-4 Methods of accounting for long-term contracts.
- § 1.721-2 Noncompensatory options.
- § 1.755-1 Rules for allocation of basis.
- § 1.1245-4 Exceptions and limitations.
- § 301.6241-7 Treatment of special enforcement matters.
Amendment history
From the source credit and the official notes, newest first.
- Amended by Pub. L. 98–369
- Enacted by Pub. L. 94–455
Where it sits in the 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
Nearby sections
Official notes
Show the Law Revision Counsel's notes (amendments, effective dates)
Editorial Notes
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”.
Statutory Notes and Related Subsidiaries
Effective Date of 1984 Amendment
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.
Effective Date of 1976 Amendment
For 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.