P.R. Laws tit. 13, § 30568

2019-02-20 00:00:00+00

§ 30568. Basis of interest of partner who receives a distribution

In the case of a distribution by the special partnership to a partner other than the total liquidation of his/her interest, the adjusted basis for said 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 for said partner of distributed property, other than money, determined as provided in § 30577 of this title.

History —Jan. 31, 2011, No. 1, § 1114.18, retroactive to Jan. 1, 2011.