United States IRC sections
Statute section
IRC section 754
Manner of electing optional adjustment to basis of partnership property
Country
United States
Section
754
Updated
2026-05-20
Operative text
Section 754 allows a partnership to elect to adjust the basis of partnership property on the transfer of a partnership interest (Section 743(b)) and on distributions (Section 734(b)). The election is binding for all future years unless revoked with IRS consent.
Cross-references
26 U.S.C. 73426 U.S.C. 743
Related guides
Related citations
Computed from the cross-reference graph. Links open the related entity on this site.
Cited by
- TermSection 754 Election
- StatuteIRC §704
Primary sources
- 26 U.S.C. section 754Verified 2026-05-20
Important disclaimer
This library is for general tax education only. Always verify filing obligations, due dates, and tax consequences against the cited primary source or with a qualified tax professional.