26 U.S. Code Section 741 - Recognition and character of gain or loss on sale or exchange 2018

In the case of a sale or exchange of an interest in a partnership, gain or loss shall be recognized to the transferor partner. Such gain or loss shall be considered as gain or loss from the sale or exchange of a capital asset, except as otherwise provided in section 751 (relating to unrealized receivables and inventory items).

History

AMENDMENTS 2002—Pub. L. 107–147 struck out "which have appreciated substantially in value" after "inventory items".

Annotations
Citation
26 U.S.C. § 741 (2018)
Source Credit
(Aug. 16, 1954, ch. 736, 68A Stat. 248; Pub. L. 107–147, title IV, §417(12), Mar. 9, 2002, 116 Stat. 56.)

Disclaimer: Lawrina maintains this website to enhance public access to information about its activities. We make an effort to keep the information about codes timely and accurate. Please note that we cannot guarantee that the U.S.C 2018, Title 26, Subtitle a, Chapter 1, Subchapter k, Part II, Subpart C, Section 741 — Recognition and character of gain or loss on sale or exchange — exactly reproduces the officially adopted text.