26 U.S.C. § 721
Title 26
Chapter 1
Current through PL 116-220
~1 min read
Last updated: March 30, 2026
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Sections in this chapter
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- § 1398
- § 1399
- § 1400C
- § 1400J
§ 721. Nonrecognition of gain or loss on contribution
- (a) No gain or loss shall be recognized to a partnership or to any of its partners in the case of a contribution of property to the partnership in exchange for an interest in the partnership.
- (b) Subsection (a) shall not apply to gain realized on a transfer of property to a partnership which would be treated as an investment company (within the meaning of section 351) if the partnership were incorporated.
- (c) The Secretary may provide by regulations that subsection (a) shall not apply to gain realized on the transfer of property to a partnership if such gain, when recognized, will be includible in the gross income of a person other than a United States person.
- (d) For regulatory authority to treat intangibles transferred to a partnership as sold, see section 367(d)(3).
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