Sec. 13502. Modify definition of substantial built-in loss in the case of transfer of partnership interest
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(1)of section 743(d) is to read as follows: For purposes of this section, a partnership has a substantial built-in loss with respect to a transfer of an interest in the partnership if— the partnership's adjusted basis in the partnership property exceeds by more than $250,000 the fair market value of such property, or the transferee partner would be allocated a loss of more than $250,000 if the partnership assets were sold for cash equal to their fair market value immediately after such transfer. . The amendments made by this section shall apply to transfers of partnership interests after December 31, 2017.