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26 U.S.C. · Internal Revenue Code
26 U.S.C. § 741

Recognition and character of gain or loss on sale or exchange

Ch. 1 — NORMAL TAXES AND SURTAXES
Title 26 U.S.C. ● ACTIVE Primary Source Ch. 1
Statutory Text

26 U.S.C. § 741 — Recognition and character of gain or loss on sale or exchange

U.S.C. Title 26 - INTERNAL REVENUE CODE 26 U.S.C. United States Code, 2023 Edition 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 From the U.S. Government Publishing Office, www.gpo.gov

§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).

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

Editorial Notes

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

Source: uscode.house.gov — public domain Official Source ↗
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◈ Machine-Readable Provenance Record Root-LD v1.0 · boisestandard.org
Federation ID
BS-USC26-SEC-174CB6
Entity Class
STATUTE / FEDERAL-CODE-SECTION
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boisestandard.org
Citation
26 U.S.C. § 741
Jurisdiction
Federal — United States
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✓ ACTIVE
Source
PRIMARY-SOURCE
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✓ TRUE
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69ffc1d2f384ff63...
Semantic Edges
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The statutory text of 26 U.S.C. § 741 is reproduced from the official United States Code as published by the Office of the Law Revision Counsel of the U.S. House of Representatives (uscode.house.gov).
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Ch. 1 — NORMAL TAXES AND SURTAXES
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