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