§ 741. Recognition and character of gain or loss on sale or exchange

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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).

(Aug. 16, 1954, ch. 736, 68A Stat. 248; Pub. L. 107–147, title IV, § 417(12), Mar. 9, 2002, 116 Stat. 56.)

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Aug. 16, 1954, ch. 736
68A Stat. 248
Pub. L. 107–147, title IV, § 417(12)
116 Stat. 56
Pub. L. 107–147

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§ 741

Recognition and character of gain or loss on sale or exchange

Stat.×1

ActAug. 16, 1954, ch. 736

Stat.68A Stat. 248

Pub. L.Pub. L. 107–147, title IV, § 417(12)

Stat.116 Stat. 56

Pub. L.Pub. L. 107–147

Cites 5Cited by 1 across 1 source