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.
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.
For purposes of this section, a liability to which property is subject shall, to the extent of the fair market value of such property, be considered as a liability of the owner of the property.
In the case of a sale or exchange of an interest in a partnership, liabilities shall be treated in the same manner as liabilities in connection with the sale or exchange of property not associated with partnerships.
(Aug. 16, 1954, ch. 736, 68A Stat. 251.)
Pub. L. 98–369, div. A, title I, §79, July 18, 1984, 98 Stat. 597, as amended by Pub. L. 99–514, §2, Oct. 22, 1986, 100 Stat. 2095, provided that:
"(a)
"(b)
§ 1.752-0 | Table of contents |
§ 1.752-1 | Treatment of partnership liabilities |
§ 1.752-2 | Partner's share of recourse liabilities |
§ 1.752-2T | Partner's share of recourse liabilities (temporary) |
§ 1.752-3 | Partner's share of nonrecourse liabilities |
§ 1.752-4 | Special rules |
§ 1.752-5 | Effective dates and transition rules |
§ 1.752-6 | Partnership assumption of partner's section 358(h)(3) liability after October 18, 1999, and before June 24, 2003 |
§ 1.752-7 | Partnership assumption of partner's § 1752–7 liability on or after June 24, 2003 |
The Regulations cited above were determined based on programmatic database analysis using data provided by the Government Publishing Office. TouchTax attempts to hide unrelated regulation provisions. Due to limited GPO data, however, certain unrelated regulations may appear in some instances.
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