Internal Revenue Code (Title 26 U.S.C.)
26 U.S.C. § 741
Recognition and character of gain or loss on sale or exchange
Official textgovinfo.govlast amended
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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Nearby sections (25 sections)
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- 721 · Nonrecognition of gain or loss on contribution
- 722 · Basis of contributing partner's interest
- 723 · Basis of property contributed to partnership
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- 731 · Extent of recognition of gain or loss on distribution
- 732 · Basis of distributed property other than money
- 733 · Basis of distributee partner's interest
- 734 · Adjustment to basis of undistributed partnership property where…
- 735 · Character of gain or loss on disposition of distributed property
- 736 · Payments to a retiring partner or a deceased partner's successor…
- 737 · Recognition of precontribution gain in case of certain…
- 741 · Recognition and character of gain or loss on sale or exchange
- 742 · Basis of transferee partner's interest
- 743 · Special rules where section 754 election or substantial built-in…
- 751 · Unrealized receivables and inventory items
- 752 · Treatment of certain liabilities
- 753 · Partner receiving income in respect of decedent
- 754 · Manner of electing optional adjustment to basis of partnership…
- 755 · Rules for allocation of basis
- 761 · Terms defined
- 771 · [§§771 to 777. Repealed. Pub. L. 114–74, title XI, §1101(b)(1),…
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