there was no sale of the property for tax purposes and generally no gain or loss is recognized for tax purposes on distribution unless your outside tax basis goes negative. 1/2 of the partnership basis in the property gets charged to each partner's capital account. that becomes your basis in the home. you are also responsible for depreciation recapture on the depreciation taken by the partnership when you sell the property.
see this article
https://thismatter.com/money/tax/partnership-distributions.htm
