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2016 US Code
Title 26 - Internal Revenue Code
Subtitle A - Income Taxes
Chapter 1 - Normal Taxes and Surtaxes
Subchapter K - Partners and Partnerships
Part II - Contributions, Distributions, and Transfers
Subpart C - Transfers of Interests in a Partnership
Sec. 741 - Recognition and character of gain or loss on sale or exchange
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| 26 U.S.C. § 741 (2016) |
| §741. Recognition and character of gain or loss on sale or exchange |
|
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). |
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(Aug. 16, 1954, ch. 736, 68A Stat. 248; Pub. L. 107–147, title IV, §417(12), Mar. 9, 2002, 116 Stat. 56.) |
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AMENDMENTS
2002—Pub. L. 107–147 struck out "which have appreciated substantially in value" after "inventory items". |
| United States Code, 2012 Edition, Supplement 4, Title 26 - INTERNAL REVENUE CODE |
| Bills and Statutes |
| United States Code |
| Y 1.2/5: |
| Title 26 - INTERNAL REVENUE CODE Subtitle A - Income Taxes CHAPTER 1 - NORMAL TAXES AND SURTAXES Subchapter K - Partners and Partnerships PART II - CONTRIBUTIONS, DISTRIBUTIONS, AND TRANSFERS Subpart C - Transfers of Interests in a Partnership Sec. 741 - Recognition and character of gain or loss on sale or exchange |
| section 741 |
| 2016 |
| January 6, 2017 |
| No |
| standard |
| 116 Stat. 56 |
| Public Law 107-147 |
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