26 U.S.C. § 741

Current through P.L. 118-106 (published on www.congress.gov on 10/04/2024)

Section 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).

26 U.S.C. § 741

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

EDITORIAL NOTES

AMENDMENTS2002-Pub. L. 107-147 struck out "which have appreciated substantially in value" after "inventory items".