DISTRIBUTIVE SHARE

distributive share. 1. The share that an heir or beneficiary receives from the legal distribution

of  an  estate.  [Cases:  Descent  and  Distribution    20–51;  Wills    521–535.  C.J.S.  Descent  and

Distribution  §§  23–59;  Wills§§  967–1028.]  2.  The  portion  (as  determined  in  the  partnership

agreement) of a partnership’s income, gain, loss, or deduction that is passed through to a partner

and reported on the partner’s tax return. [Cases: Internal Revenue    3921; Taxation    1017. C.J.S.

Internal  Revenue  §  429;  Taxation§  1709.]  3.  The  share  of  assets  or  liabilities  that  a  partner  or

partner’s estate acquires after the  partnership  has been dissolved. [Cases: Partnership    302, 305,

306. C.J.S. Partnership §§ 344, 346–347, 349–350.] [Blacks Law 8th]