{"data":{"id":"us-or/ors-314.720","jurisdiction":"us-or","citation":"ORS 314.720","heading":"Treatment of distributions from partnership.","body":"(1) Gain or loss shall not be recognized by a partner upon a distribution by a partnership to that partner, except to the extent provided in section 731 of the Internal Revenue Code.\n      (2) The character of gain or loss on the disposition by a distributee partner of unrealized receivables or inventory items shall be determined pursuant to section 735 of the Internal Revenue Code.\n      (3) The basis of property (other than money) distributed by a partnership to a partner shall be determined pursuant to sections 704(c)(1)(B)(iii) and 732 of the Internal Revenue Code, and shall be increased or decreased as provided in ORS chapter 316.\n      (4) If a partnership makes the election to adjust the basis of its assets under section 754 of the Internal Revenue Code, then upon a distribution of property to a partner, that election shall also be effective for Oregon income tax purposes.\n      (5) Payments made by a partnership in liquidation of the interest of a retiring partner or a deceased partner shall be accorded the treatment provided under section 736 of the Internal Revenue Code.\n      (6) Any decrease in a partner’s share of partnership liabilities or any decrease in a partner’s individual liabilities by reason of the assumption by the partnership of the partner’s individual liabilities, shall be considered to be a distribution of money to the partner by the partnership under section 752 of the Internal Revenue Code.","path":["08 - Revenue and Taxation","29. Revenue and Taxation","Chapter 314 — Taxes Imposed Upon or Measured by Net Income"],"source_url":"https://www.oregonlegislature.gov/bills_laws/ors/ors314.html","current_through":"2025 Edition","vintage":"","retrieved_at":"2026-09-03T23:50:13Z","sha256":"f463e5be82d44703deb72d6e5ad792ff3e3f75dccdeb2200f9487fb4ffabbe87","source_id":"us-or","stale":false,"prev":"us-or/ors-314.718","next":"us-or/ors-314.722"},"notice":"GroundRules: Original legal text. Not legal advice."}