modified basis
Defined in 1 place of the United States Code.
The term "modified basis" means, with respect to any partner, such partner's adjusted basis in the partnership as determined—
(I) immediately before the contribution described in subparagraph (A),
(II) without regard to section 752, and
(III) by the partnership after taking into account the adjustments described in subclauses (I) and (II) and such other adjustments as the Secretary may provide.
Source
- 2022–present26 U.S.C. § 170Internal Revenue Code · Charitable, etc., contributions and gifts · for purposes of this section