Читать книгу Taxation Essentials of LLCs and Partnerships - Larry Tunnell - Страница 32

Partners are taxable on their shares of partnership income whether or not that income is distributed to them. Where some or all of a partner's share of partnership income is not distributed (that is, is retained by the partnership) the excess represents an additional investment by the partner in the partnership. Accordingly, under Section 705(a)(1), a partner's share of items of partnership income, including nontaxable income (for example, municipal bond interest) increases his or her basis in the partnership interest. Basis is then reduced by the portion, if any, of that income which is distributed to the partner during the year.