P.R. Laws tit. 13, § 30576
The basis of the property contributed to a special partnership by a partner shall be the adjusted basis of such property to the partner at the time of the contribution, increased by the gain recognized to the contributing partner (under § 30559 of this title) in the case of property subject to an obligation or lien. In the case that the contributed property has been flexibly depreciated, the basis of such property to the special partnership shall be equal to the flexibly adjusted basis (as defined in § 30181(d)(2) of this title) of the contributed property, increased by the gain or decreased by the loss recognized to the contributing partner. In the case of contributed property which has been subject to accelerated depreciation, the basis of such property to the special partnership shall be equal to the basis of the contributed property, decreased by the depreciation claimed under the accelerated depreciation method, increased by the gain, or decreased by the loss recognized to the contributing partner.
History —Jan. 31, 2011, No. 1, § 1114.26, retroactive to Jan. 1, 2011.