Several times this term during our journey through Subchapter K we noted that sometimes the code distinguishes partnership transactions that occur in money with other transactions that occur in other property. For example, 732(a)(1) provides:

(a)Distributions other than in liquidation of a partners interest

(1)General rule

The basis of property (other than money) distributed by a partnership to a partner other than in liquidation of the partners interest shall, except as provided in paragraph (2), be its adjusted basis to the partnership immediately before such distribution.

Where is money defined and what is that definition? (Hint: Dont use your Websters dictionary.)