26 U.S.C. § 741 — Recognition and character of gain or loss on sale or exchange
submitted 72 years ago by ch. 736 to r/title-26-INTERNAL-REVENUE-CODE · 58 words · no verdicts yet
A translation hasn’t been published for this section yet. The official text below is complete and authoritative.
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*).
Source credit: (Aug. 16, 1954, ch. 736, 68A Stat. 248; Pub. L. 107–147, title IV, § 417(12), Mar. 9, 2002, 116 Stat. 56.)
- 1954Enacted · Act of Aug. 16, 1954, ch. 736
- 2002Amended · Pub. L. 107-147 · 116 Stat. 56
A history note hasn’t been published yet. The record shows enactment by ch. 736 on 1954-08-16.
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