Oregon Revised Statutes

Or. Rev. Stat. § 314.720 (2026)

Treatment of distributions from partnership

✓ current as of May 2026

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314.720 Treatment of distributions from partnership. (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.

(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.

(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.

(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.

(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.

(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. [1989 c.625 §38; 1991 c.457 §20; 1995 c.556 §29]

Notes of Decisions

Cited in 2 cases, 2017–2018 · leading case: Cook v. Dept. of Rev., 23 Or. Tax 107 (Or. T.C. 2018).

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Cook v. Dept. of Rev., 23 Or. Tax 107 (Or. T.C. 2018). · cites it 5× “” ORS 314.720 provides, in relevant part: “(1) Gain or loss shall not be recognized by a part- ner upon a distribution by a partnership to that partner, except to the extent provided in section 731 of the Internal Revenue Code.”

Wiley v. Dept. of Rev. (Or. T.C. 2017). “714 (concerning items of partnership income, gain, loss, or deduction); ORS 314.720 (concerning partnership distributions).”

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