2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 17 - Internal Revenue Code of 2011 (§§ 30001 — 33423) › PART II - Income Taxes (§§ 30041 — 30622) › Chapter 1009 - Partnerships and Partners (§§ 30321 — 30378) › Subchapter A - Tax Imposition (§§ 30331 — 30339) › § 30332 - Income and credits of partners

(a) General rule.— In determining his/her income tax, each partner shall take into account separately his/her distributive share of the partnership’s (subject to the conditions and limitations provided in this chapter) for any of its taxable years ending within or simultaneously with the taxable year of the partner, regarding:
(1) Gains and losses from sales or exchanges of capital assets held for not more than six (6) months;
(2) gains and losses from sales or exchanges of capital assets held for more than six (6) months;
(3) gains and losses from sales or exchanges of property described in § 30141(i) of this title;
(4) gains and losses in the sale or exchange of all the assets of an exempt business pursuant to the Puerto Rico Tourist Development Act of 1993, §§ 6001 et seq. of Title 23, the Puerto Rico Tourist Development Act of 2010, §§ 6341 et seq. of Title 23, the and any subsequent or similar law;
(5) charitable contributions;
(6) dividends with respect to which the provisions of § 30086 of this title, the apply,
(7) taxes withheld on dividends described in clause (6);
(8) taxes described in §§ 30201, 30272, 30273, and 30274 of this title;
(9) income or loss derived from the activities covered by an exemption grant or decree, as the case may be, under the Puerto Rico Tourist Development Act of 1993, §§ 6001 et seq. of Title 23, Puerto Rico Tourist Development Act of 2010, §§ 6341 et seq. of Title 23, Economic Incentives Act for the Development of Puerto Rico, §§ 10641 et seq. of this title, or any other subsequent or similar law;
(10) net income or loss, exclusive of items requiring separate computation under other clauses of this subsection, and
(11) other income, gain, loss, deduction, or credit items, as provided by the Secretary through regulations, including the distributive share of each partner in the amount of expenses incurred or paid to a related party or a home office located outside of Puerto Rico, in the value of personal property purchased from such parties, as provided in § 30073 of this title, and in the gross income, as defined in § 30090(e) of this title.
(b) Character of items constituting distributive share.— The character of any item of income, gain, loss, deduction, or credit included in a partner’s distributive share under clauses (1)–(11) of subsection (a) shall be determined as if such item were realized directly from the source from which realized by the partnership, or incurred in the same manner as incurred by the partnership.
(c) Gross income of a partner.— In any case where it is necessary to determine the gross income of a partner for purposes of this part, such gross income shall include his/her distributive share of the gross income of the partnership.
(d) Tax treatment of partnership items.— For rules relating to procedures for determining the tax treatment of partnership items see §§ 33001 et seq. of this title.
History —Jan. 31, 2011, No. 1, § 1071.02, retroactive to Jan. 1, 2011; Dec. 10, 2011, No. 232, § 84; June 30, 2013, No. 40, § 30.