Source: http://taxtv.com/code/00537-USCODE-2011-title26-subtitleA-chap1-subchapK-partII-subpartD-sec752/
Timestamp: 2017-03-24 12:08:06
Document Index: 643816449

Matched Legal Cases: ['§752', '§752', '§752', '§79', '§2', '§752']

IRC §752. Treatment of certain liabilities - TaxTV.com
IRC §752. Treatment of certain liabilities
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(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.
(Aug. 16, 1954, ch. 736, 68A Stat. 2 .)
Pub. L. 98–369, div. A, title I, §79, July 18, 1984, 98 Stat. 597, as amended by Pub. L. 99– 4, §2, Oct. 22, 1986, 100 Stat. 2095, provided that:
View related content: IRC §752