26 USC 724 - Character of gain or loss on contributed unrealized receivables, inventory items, and capital loss property

Editorial Notes

Amendments

1997—Subsec. (d)(2). Puspan. L. 105–34 substituted “section 751(d)” for “section 751(d)(2)”.

1996—Subsec. (d)(3)(B). Puspan. L. 104–188 substituted “Subparagraph” for “Subparagaph”.

Statutory Notes and Related Subsidiaries

Effective Date of 1997 Amendment

Puspan. L. 105–34, title X, § 1062(c), Aug. 5, 1997, 111 Stat. 947, provided that:

“(1)In general.—The amendments made by this section [amending this section and sections 731, 732, 735, and 751 of this title] shall apply to sales, exchanges, and distributions after the date of the enactment of this Act [Aug. 5, 1997].

“(2)Binding contracts.—The amendments made by this section shall not apply to any sale or exchange pursuant to a written binding contract in effect on June 8, 1997, and at all times thereafter before such sale or exchange.”

Effective Date

Puspan. L. 98–369, div. A, title I, § 74(d)(1), July 18, 1984, 98 Stat. 594, provided that: “The amendment made by subsection (a) [enacting this section] shall apply to property contributed to a partnership after March 31, 1984, in taxable years ending after such date.”