26 U.S.C. § 752
Treatment of certain liabilities
# (a) Increase in partner’s liabilities
Any increase in a partner’s share of the liabilities of a partnership, or any increase in a partner’s individual liabilities by reason of the assumption by such partner of partnership liabilities, shall be considered as a contribution of money by such partner to the partnership.
# (b) Decrease in partner’s liabilities
Any decrease in a partner’s share of the liabilities of a partnership, or any decrease in a partner’s individual liabilities by reason of the assumption by the partnership of such individual liabilities, shall be considered as a distribution of money to the partner by the partnership.
# (c) Liability to which property is subject
For purposes of this section, a liability to which property is subject shall, to the extent of the fair market value of such property, be considered as a liability of the owner of the property.
# (d) Sale or exchange of an interest
In the case of a sale or exchange of an interest in a partnership, liabilities shall be treated in the same manner as liabilities in connection with the sale or exchange of property not associated with partnerships.
Source: view the official text
Cited by 43
- 26 CFR § 1.1(h)-1 — Capital gains look-through rule for sales or exchanges of interests in a partnership, S corporation, or trust.
- 26 CFR § 1.1001-2 — Discharge of liabilities.
- 26 CFR § 1.1014-10 — Basis of property acquired from a decedent must be consistent with property's Federal estate tax value.
- 26 CFR § 1.108(i)-0 — Definitions and effective/applicability dates.
- 26 CFR § 1.108(i)-2 — Application of section 108(i) to partnerships and S corporations.
- 26 CFR § 1.1223-3 — Rules relating to the holding periods of partnership interests.
- 26 CFR § 1.1245-4 — Exceptions and limitations.
- 26 CFR § 1.1400Z2(a)-1 — Deferring tax on capital gains by investing in opportunity zones.
- 26 CFR § 1.1400Z2(b)-1 — Inclusion of gains that have been deferred under section 1400Z-2(a).
- 26 CFR § 1.1400Z2(c)-1 — Investments held for at least 10 years.
- 26 CFR § 1.1400Z2-0 — Table of Contents.
- 26 CFR § 1.1446(f)-2 — Withholding on the transfer of a non-publicly traded partnership interest.
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- 26 CFR § 1.163(j)-10 — Allocation of interest expense, interest income, and other items of expense and gross income to an excepted trade or business.
- 26 CFR § 1.170A-14 — Qualified conservation contributions.
- 26 CFR § 1.362-3 — Basis of importation property acquired in loss importation transaction.
- 26 CFR § 1.362-4 — Basis of loss duplication property.
- 26 CFR § 1.385-3 — Certain distributions of debt instruments and similar transactions.
- 26 CFR § 1.465-27 — Qualified nonrecourse financing.
- 26 CFR § 1.6011-4 — Requirement of statement disclosing participation in certain transactions by taxpayers.
- 26 CFR § 1.704-1 — Partner's distributive share.
- 26 CFR § 1.705-1 — Determination of basis of partner's interest.
- 26 CFR § 1.707-5 — Disguised sales of property to partnership; special rules relating to liabilities.
- 26 CFR § 1.721-1 — Nonrecognition of gain or loss on contribution.
- 26 CFR § 1.722-1 — Basis of contributing partner's interest.
- 26 CFR § 1.731-2 — Partnership distributions of marketable securities.
- 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 § 1.737-4 — Anti-abuse rule.
- 26 CFR § 1.743-1 — Optional adjustment to basis of partnership property.
- 26 CFR § 1.751-1 — Unrealized receivables and inventory items.
- 26 CFR § 1.752-1 — Treatment of partnership liabilities.
- 26 CFR § 1.752-2 — Partner's share of recourse liabilities.
- 26 CFR § 1.752-4 — Special rules.
- 26 CFR § 1.752-6 — Partnership assumption of partner's section 358(h)(3) liability after October 18, 1999, and before June 24, 2003.
- 26 CFR § 1.752-7 — Partnership assumption of partner's § 1.752-7 liability on or after June 24, 2003.
- 26 CFR § 1.755-1 — Rules for allocation of basis.
- 26 CFR § 1.7874-10 — Disregard of certain distributions.
- 26 CFR § 1.861-9T — Allocation and apportionment of interest expense (temporary).
- 26 CFR § 1.882-5 — Determination of interest deduction.
- 26 CFR § 1.884-1 — Branch profits tax.
- 26 U.S.C. § 108 — Income from discharge of indebtedness
- 26 U.S.C. § 170 — Charitable, etc., contributions and gifts
- 26 U.S.C. § 465 — Deductions limited to amount at risk
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