30353

In the case of a distribution by a partnership to a partner other than in liquidation of a partner’s interest, the adjusted basis to such partner of his/her interest in the partnership shall be reduced (but not below zero) by:(1) The amount of any money distributed to such partner, and(2) the amount of the basis attributable to such partner of distributed property other than money, as determined under § 30352 of this title. History —Jan. 31, 2011, No. 1, § 1073.03, retroactive to Jan. 1, 2011; Dec. 10, 2011, No. 232, § 90.