26-U.S.C.-741

§741 – Recognition and Character of Gain Or Loss On Sale Or Exchange

Pathway

Title 26 > Subtitle A > Chapter 1 > Subchapter K > Part II > Subpart C > Section 741

Details

• Reference: Section 741
• Legend: §741 – Recognition and Character of Gain Or Loss On Sale Or Exchange
• USCode Year: 2013

Provision Content

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).

(Aug. 16, 1954, ch. 736, 68A Stat. 248; Pub. L. 107–147, title IV, §417(12), Mar. 9, 2002, 116 Stat. 56.)

Amendments

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

U.S. Encyclopedia of Law Coverage

Subpart B – Distributions By A Partnership in the Legal Encyclopedia: Income Taxes

In this entry about Subpart B – Distributions By A Partnership, find legal reference material, bibliographies and premiere content related to income taxes in the American Encyclopedia of Law, presenting a comprehensive view of the United States income taxes-specific issues, written by authorities in the field.

26-U.S.C.-721 in the Legal Encyclopedia: Tax Liability

In this entry about 26-U.S.C.-721, find legal reference material, bibliographies and premiere content related to tax liability in the American Encyclopedia of Law, presenting a comprehensive view of the United States tax liability-specific issues, written by authorities in the field.

Subpart A – Contributions To A Partnership in the Legal Encyclopedia: Taxation

In this entry about Subpart A – Contributions To A Partnership, find legal reference material, bibliographies and premiere content related to taxation in the American Encyclopedia of Law, presenting a comprehensive view of the United States taxation-specific issues, written by authorities in the field.

26-U.S.C.-723 in the Legal Encyclopedia: Liability

In this entry about 26-U.S.C.-723, find legal reference material, bibliographies and premiere content related to liability in the American Encyclopedia of Law, presenting a comprehensive view of the United States liability-specific issues, written by authorities in the field.

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