{
  "urn": "urn:us-la:rs:47:215",
  "title_number": "47",
  "section_number": "215",
  "citation": "R.S. 47:215",
  "heading": "Optional adjustment to basis of undistributed partnership property",
  "text": "A. General rule. The basis of partnership property shall not be adjusted as the result of a distribution of property to a partner unless the election, provided in R.S. 47:220.1 (relating to optional adjustment to basis of partnership property), is in effect with respect to such partnership.\n\nB. Method of adjustment. In the case of a distribution of property to a partner, a partnership, with respect to which the election provided in R.S. 47:220.1 is in effect, shall:\n\n(1) Increase the adjusted basis of partnership property by:\n\n(a) the amount of any gain recognized to the distributee partner with respect to such distribution under R.S. 47:212 A(1), and\n\n(b) in the case of distributed property to which R.S. 47:213 A(2) or B applies, the excess of the adjusted basis of the distributed property to the partnership immediately before the distribution as adjusted by R.S. 47:213 D over the basis of the distributed property to the distributee, as determined under R.S. 47:213, or\n\n(2) Decrease the adjusted basis of partnership property by:\n\n(a) the amount of any loss recognized to the distributee partner with respect to such distribution under R.S. 47:212 A(2), and\n\n(b) in the case of distributed property to which R.S. 47:213 B applied, the excess of the basis of the distributed property to the distributee, as determined under R.S. 47:213, over the adjusted basis of the distributed property to the partnership immediately before such distribution (as adjusted in accordance with R.S. 47:213 D).\n\nC. Allocation of basis. The allocation of basis among partnership properties where Subsection B is applicable shall be made in accordance with the rules provided in R.S. 47:220.2.",
  "status": "active",
  "hierarchy_path": [
    {
      "level": "title",
      "number": "47",
      "name": "REVENUE AND TAXATION"
    },
    {
      "level": "subtitle",
      "number": "II",
      "name": "PROVISIONS RELATING TO TAXES COLLECTED AND ADMINISTERED BY THE COLLECTOR OF REVENUE"
    },
    {
      "level": "chapter",
      "number": "1",
      "name": "INCOME TAX"
    },
    {
      "level": "part",
      "number": "II",
      "name": "SUPPLEMENTAL PROVISIONS"
    },
    {
      "level": "subpart",
      "number": "D",
      "name": "PARTNERSHIPS"
    }
  ],
  "breadcrumb": "Title 47 › Subtitle II › Chapter 1 › Part II › Subpart D",
  "acts_citations": [
    {
      "act_year": 1958,
      "act_number": 441,
      "section": 2,
      "effective_date": null,
      "effective_date_raw": null,
      "role": "enactment"
    }
  ],
  "acts_citations_raw": "Added by Acts 1958, No. 441, §2.",
  "source_url": "https://legis.la.gov/legis/Law.aspx?d=101509",
  "website_law_id": 101509,
  "scrape_timestamp": "2026-05-22T23:36:34Z",
  "source_html_hash": "sha256:c99542f27dc75707bfeb7f9169827a9793968cdea6b9a4d1c69343a2f8b810f5",
  "schema_version": "1.0.0"
}