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INTERNAL REVENUE CODE OF 1986


Index  » Subtitle A  » Chapter 1  » Subchapter K  » I.R.C. 752

I.R.C. 752
Treatment of certain liabilities

Current through February 18, 2024 (Pub. L. 118-39)


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I.R.C. § 752.  Treatment of certain liabilities

(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.

(c) Liability to which property is subject

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.

(d) Sale or exchange of an interest

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.)


Section Information

Statutory Notes and Related Subsidiaries

Overruling of Raphan Case

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) General Rule.—Section 752 of the Internal Revenue Code of 1986 [formerly I.R.C. 1954] (and the regulations prescribed thereunder) shall be applied without regard to the result reached in the case of Raphan vs the United States, 3 Cl. Ct. 457 (1983).

"(b) Regulations.—In amending the regulations prescribed under section 752 of such Code to reflect subsection (a), the Secretary of the Treasury or his delegate shall prescribe regulations relating to liabilities, including the treatment of guarantees, assumptions, indemnity agreements, and similar arrangements."


Regulations for I.R.C. 752 (Return to Top)

§ 1.752-0Table of contents
§ 1.752-1Treatment of partnership liabilities
§ 1.752-2Partner's share of recourse liabilities
§ 1.752-2TPartner's share of recourse liabilities (temporary)
§ 1.752-3Partner's share of nonrecourse liabilities
§ 1.752-4Special rules
§ 1.752-5Effective dates and transition rules
§ 1.752-6Partnership assumption of partner's section 358(h)(3) liability after October 18, 1999, and before June 24, 2003
§ 1.752-7Partnership 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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