Internal Revenue Code · 26 U.S.C.
§ 742. Basis of transferee partner’s interest
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. § 742
At a glance
Read from the text, the source credit and the official notes. Not part of the law.
- Status
- In force
- Length
- 32 words · about 1 min to read
- Cross-references
- cites 1; cited by 1 Code section and 5 other regulations
- Regulations
- 1 issued under this section
The basis of an interest in a partnership acquired other than by contribution shall be determined under part II of subchapter O (sec. 1011 and following).
(Aug. 16, 1954, ch. 736, 68A Stat. 249.)
Regulations under this section
Treasury regulations (26 CFR) issued under § 742
Cross-references
Computed from the citations in the text of Title 26 and 26 CFR.
This section cites 1 other section
Cited by 1 Code section
Cited in 5 regulations not issued under it
- § 1.705-1 Determination of basis of partner's interest.
- § 1.708-1 Continuation of partnership.
- § 1.734-2 Adjustment after distribution to transferee partner.
- § 1.743-1 Optional adjustment to basis of partnership property.
- § 1.1014-10 Basis of property acquired from a decedent must be consistent with property's Federal estate tax value.
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 C Transfers of Interests in a Partnership
Nearby sections
- § 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 loss