# Streamlining the Section 754 Election Statement
> **IRS** · Final regulations. · Published 2022-08-05 · Effective 2022-08-05 · 87 FR 47931
## Document
- **Document number:** 2022-16271
- **Category:** other
- **Sub-agency:** IRS
- **Federal Register citation:** 87 FR 47931
- **CFR reference:** 26 CFR 1
- **Publication date:** 2022-08-05
- **Effective date:** 2022-08-05
- **Treasury docket:** TD 9963
## Abstract

This document contains final regulations relating to the requirements for making a valid election to adjust the basis of partnership property in the case of a distribution of property by the partnership or a transfer of an interest in the partnership. These regulations affect partnerships and their partners by removing a regulatory burden in making an election to adjust the basis of partnership property.

## Source
- [Federal Register document](https://www.federalregister.gov/documents/2022/08/05/2022-16271/streamlining-the-section-754-election-statement)
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