26 U.S.C. § 702
Income and credits of partner
# (a) General rule
In determining his income tax, each partner shall take into account separately his distributive share of the partnership’s— (1) gains and losses from sales or exchanges of capital assets held for not more than 1 year, (2) gains and losses from sales or exchanges of capital assets held for more than 1 year, (3) gains and losses from sales or exchanges of property described in section 1231 (relating to certain property used in a trade or business and involuntary conversions), (4) charitable contributions (as defined in section 170(c)), (5) dividends with respect to which section 1(h)(11) or part VIII of subchapter B applies, (6) taxes, described in section 901, paid or accrued to foreign countries and to possessions of the United States, (7) other items of income, gain, loss, deduction, or credit, to the extent provided by regulations prescribed by the Secretary, and (8) taxable income or loss, exclusive of items requiring separate computation under other paragraphs of this subsection.
# (b) Character of items constituting distributive share
The character of any item of income, gain, loss, deduction, or credit included in a partner’s distributive share under paragraphs (1) through (7) of subsection (a) shall be determined as if such item were realized directly from the source from which realized by the partnership, or incurred in the same manner as incurred by the partnership.
# (c) Gross income of a partner
In any case where it is necessary to determine the gross income of a partner for purposes of this title, such amount shall include his distributive share of the gross income of the partnership.
# (d) Cross reference
For rules relating to procedures for determining the tax treatment of partnership items see subchapter C of chapter 63 (section 6221 and following).
Source: view the official text
Cited by 57
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- 26 CFR § 1.1402(a)-3 — Special rules for computing net earnings from self-employment.
- 26 CFR § 1.1402(a)-8 — Community income.
- 26 CFR § 1.1402(c)-6 — Members of certain professions.
- 26 CFR § 1.1402(f)-1 — Computation of partner's net earnings from self-employment for taxable year which ends as result of his death.
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- 26 CFR § 1.441-2 — Election of taxable year consisting of 52-53 weeks.
- 26 CFR § 1.444-2T — Tiered structure (temporary).
- 26 CFR § 1.46-3 — Qualified investment.
- 26 CFR § 1.468B-2 — Taxation of qualified settlement funds and related administrative requirements.
- 26 CFR § 1.469-7 — Treatment of self-charged items of interest income and deduction.
- 26 CFR § 1.48-1 — Definition of section 38 property.
- 26 CFR § 1.50B-4 — Partnerships.
- 26 CFR § 1.514(c)-1 — Acquisition indebtedness.
- 26 CFR § 1.58-2 — General rules for conduit entities; partnerships and partners.
- 26 CFR § 1.61-13 — Distributive share of partnership gross income; income in respect of a decedent; income from an interest in an estate or trust.
- 26 CFR § 1.613A-3 — Exemption for independent producers and royalty owners.
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- 26 CFR § 1.67-2T — Treatment of pass-through entities (temporary).
- 26 CFR § 1.702-1 — Income and credits of partner.
- 26 CFR § 1.702-2 — Net operating loss deduction of partner.
- 26 CFR § 1.703-1 — Partnership computations.
- 26 CFR § 1.704-1 — Partner's distributive share.
- 26 CFR § 1.706-1 — Taxable years of partner and partnership.
- 26 CFR § 1.706-4 — Determination of distributive share when a partner's interest varies.
- 26 CFR § 1.707-1 — Transactions between partner and partnership.
- 26 CFR § 1.736-1 — Payments to a retiring partner or a deceased partner's successor in interest.
- 26 CFR § 1.737-1 — Recognition of precontribution gain.
- 26 CFR § 1.751-1 — Unrealized receivables and inventory items.
- 26 CFR § 1.7519-1T — Required payments for entities electing not to have required year (temporary).
- 26 CFR § 1.852-4 — Method of taxation of shareholders of regulated investment companies.
- 26 CFR § 1.901-3 — Reduction in amount of foreign taxes on foreign mineral income allowed as a credit.
- 26 CFR § 1.909-1 — Definitions and special rules.
- 26 CFR § 1.909-6 — Pre-2011 foreign tax credit splitting events.
- 26 CFR § 1.986(a)-1 — Translation of foreign income taxes for purposes of the foreign tax credit.
- 26 CFR § 1.988-1 — Certain definitions and special rules.
- 26 CFR § 25.2515-1 — Tenancies by the entirety; in general.
- 26 CFR § 301.6225-1 — Partnership adjustment by the Internal Revenue Service.
- 26 CFR § 301.6225-2 — Modification of imputed underpayment.
- 26 CFR § 301.6225-3 — Treatment of partnership adjustments that do not result in an imputed underpayment.
- 26 CFR § 301.9100-7T — Time and manner of making certain elections under the Tax Reform Act of 1986.
- 26 U.S.C. § 1366 — Pass-thru of items to shareholders
- 26 U.S.C. § 1402 — Definitions
- 26 U.S.C. § 170 — Charitable, etc., contributions and gifts
- 26 U.S.C. § 6225 — Partnership adjustment by Secretary
- 26 U.S.C. § 703 — Partnership computations
- 26 U.S.C. § 704 — Partner’s distributive share
- 26 U.S.C. § 706 — Taxable years of partner and partnership
- 26 U.S.C. § 7519 — Required payments for entities electing not to have required taxable year
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