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26 U.S. Code § 721 - LII / Legal Information Institute
https://www.law.cornell.edu:443/uscode/text/26/721
WEBU.S. Code. Notes. prev | next. (a) General rule. 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) Special rule.
DA: 44 PA: 41 MOZ Rank: 28
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Sec. 721. Nonrecognition Of Gain Or Loss On Contribution
https://irc.bloombergtax.com:443/public/uscode/doc/irc/section_721
WEBI.R.C. § 721(c) Regulations Relating To Certain Transfers To Partnerships — 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.
DA: 70 PA: 85 MOZ Rank: 7
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Contributions of Property to an LLC - The Tax Adviser
https://www.thetaxadviser.com:443/issues/2009/oct/contributionsofpropertytoanllc.html
WEBGenerally, Sec. 721 provides that a member’s transfer of property to an LLC taxed as a partnership does not result in income or loss to the member or the LLC. The LLC steps into the shoes of the contributing member with respect to the holding period and adjusted tax basis of the contributed property (Secs. 1223 and 723).
DA: 95 PA: 82 MOZ Rank: 28
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IRC Sec. 721 (Nonrecognition of gain or loss on contribution)
https://www.taxnotes.com:443/research/federal/usc26/721
WEBApr 8, 2024 · For regulatory authority to treat intangibles transferred to a partnership as sold, see section 367 (d) (3). Read Internal Revenue Code (IRC) Sec. 721, Nonrecognition of gain or loss on contribution to a partnership. Find all …
DA: 52 PA: 49 MOZ Rank: 5
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Final Partnership Debt-for-Equity Regulations - The Tax Adviser
https://www.thetaxadviser.com:443/issues/2012/may/clinic-story-09.html
WEBThe final regulations generally (1) allow partnerships to use liquidation value to determine the amount of DOI income; (2) provide that nonrecognition of gain or loss under Sec. 721 applies to the creditor’s contribution of the debt instrument in exchange for a capital or profits interest in the debtor partnership; and (3) add DOI income a...
DA: 61 PA: 90 MOZ Rank: 71
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Section 721 - Nonrecognition of gain or loss on contribution
https://casetext.com:443/statute/united-states-code/title-26-internal-revenue-code/subtitle-a-income-taxes/chapter-1-normal-taxes-and-surtaxes/subchapter-k-partners-and-partnerships/part-ii-contributions-distributions-and-transfers/subpart-a-contributions-to-a-partnership/section-721-nonrecognition-of-gain-or-loss-on-contribution/analysis?citingPage=1&sort=relevance
WEBJul 26, 2018 · Freeman Law John Reyna June 1, 2021. While this nonrecognition rule is a useful instrument in the tax practitioner’s toolbox, the rule’s glamor often overshadows an important exception. Under I.R.C. § 721 (b), the general nonrecognition rule will not apply to gain realized on a transfer of property to a partnership that would be treated as ...
DA: 65 PA: 35 MOZ Rank: 13
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26 U.S.C. § 721 (2021) - Justia Law
https://law.justia.com:443/codes/us/2021/title-26/subtitle-a/chapter-1/subchapter-k/part-ii/subpart-a/sec-721/
WEB2021 US Code. Title 26 - Internal Revenue Code. Subtitle A - Income Taxes. Chapter 1 - Normal Taxes and Surtaxes. Subchapter K - Partners and Partnerships. Part II - Contributions, Distributions, and Transfers. Subpart A - Contributions to a Partnership. Sec. 721 - Nonrecognition of gain or loss on contribution. Previous Next. Download PDF.
DA: 69 PA: 79 MOZ Rank: 6
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721 - U.S. Code Title 26. Internal Revenue Code - FindLaw
https://codes.findlaw.com:443/us/title-26-internal-revenue-code/26-usc-sect-721/
WEBInternal Revenue Code § 721. Nonrecognition of gain or loss on contribution. Current as of January 01, 2024 | Updated by FindLaw Staff. (a) General rule. --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.
DA: 89 PA: 78 MOZ Rank: 57
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Section 721 - Nonrecognition of gain or loss on contribution
https://casetext.com:443/statute/united-states-code/title-26-internal-revenue-code/subtitle-a-income-taxes/chapter-1-normal-taxes-and-surtaxes/subchapter-k-partners-and-partnerships/part-ii-contributions-distributions-and-transfers/subpart-a-contributions-to-a-partnership/section-721-nonrecognition-of-gain-or-loss-on-contribution/analysis?citingPage=1&sort=relevance&sortCiting=date-descending
WEBJan 11, 2023 · Section 721 - Nonrecognition of gain or loss on contribution. 23 Analyses of this statute by attorneys. Notice 2023-7: First Peek at Corporate AMT Guidance. Holland & Knight LLP January 11, 2023.
DA: 44 PA: 78 MOZ Rank: 30
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Transfers to Investment Companies: Pitfalls of Secs. 351 and 721
https://www.thetaxadviser.com:443/issues/2007/aug/transferstoinvestmentcompaniespitfallsofsecs351and721.html
WEBTransfers to investment partnerships under Sec. 721 will only cause recognition of gains; losses will be deferred until the partnership sells the property. Thus, in Example 1, A would be required to recognize $8,000 gain on the transfer to E. However, B would not recognize the built-in loss (BIL) on contribution to E.
DA: 94 PA: 33 MOZ Rank: 35
