FEDERAL · 26 U.S.C. · Chapter Subchapter K—Partners and Partnerships
Recognition and character of gain or loss on sale or exchange
26 U.S.C. § 741
Title26 — Internal Revenue Code
ChapterSubchapter K—Partners and Partnerships
PartSubpart C—Transfers of Interests in a Partnership
This text of 26 U.S.C. § 741 (Recognition and character of gain or loss on sale or exchange) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
26 U.S.C. § 741.
Text
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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Source Credit
History
(Aug. 16, 1954, ch. 736, 68A Stat. 248; Pub. L. 107–147, title IV, §417(12), Mar. 9, 2002, 116 Stat. 56.)
Editorial Notes
Editorial Notes
Amendments
2002—Pub. L. 107–147 struck out "which have appreciated substantially in value" after "inventory items".
Amendments
2002—Pub. L. 107–147 struck out "which have appreciated substantially in value" after "inventory items".
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Bluebook (online)
26 U.S.C. § 741, Counsel Stack Legal Research, https://law.counselstack.com/usc/26/741.