26 U.S. Code § 761 - Terms defined
For purposes of this subtitle, the term “partner” means a member of a partnership. In the case of a capital interest in a partnership in which capital is a material income-producing factor, whether a person is a partner with respect to such interest shall be determined without regard to whether such interest was derived by gift from any other person.
For purposes of this subchapter, a partnership agreement includes any modifications of the partnership agreement made prior to, or at, the time prescribed by law for the filing of the partnership return for the taxable year (not including extensions) which are agreed to by all the partners, or which are adopted in such other manner as may be provided by the partnership agreement.
For purposes of this subchapter, the term “liquidation of a partner’s interest” means the termination of a partner’s entire interest in a partnership by means of a distribution, or a series of distributions, to the partner by the partnership.
2015—Subsec. (b). Pub. L. 114–74 inserted at end “In the case of a capital interest in a partnership in which capital is a material income-producing factor, whether a person is a partner with respect to such interest shall be determined without regard to whether such interest was derived by gift from any other person.”
2007—Subsecs. (f), (g). Pub. L. 110–28 added subsec. (f) and redesignated former subsec. (f) as (g).
1986—Subsec. (e). Pub. L. 99–514 substituted “Distributions of partnership interests” for “Distributions” in heading, substituted “Except as otherwise provided in regulations, for purposes of” for “For purposes of” in introductory provision, and “any distribution of an interest in a partnership” for “any distribution” in closing provisions.
1984—Subsecs. (e), (f). Pub. L. 98–369 added subsec. (e) and redesignated former subsec. (e) as (f).
1980—Subsec. (a)(3). Pub. L. 96–222 added par. (3).
1976—Subsec. (a). Pub. L. 94–455, § 1906(b)(13)(A), struck out “or his delegate” after “Secretary”.
Subsec. (e). Pub. L. 94–455, § 213(c)(3)(B), added subsec. (e).
Amendment by Pub. L. 99–514 effective, except as otherwise provided, as if included in the provisions of the Tax Reform Act of 1984, Pub. L. 98–369, div. A, to which such amendment relates, see section 1881 of Pub. L. 99–514, set out as a note under section 48 of this title.
Amendment by Pub. L. 98–369 applicable to distributions, sales, and exchanges made after Mar. 31, 1984, in taxable years ending after such date, see section 75(e) of Pub. L. 98–369, set out as an Effective Date note under section 386 of this title.
Amendment by Pub. L. 96–222 effective, except as otherwise provided, as if it had been included in the provisions of the Revenue Act of 1978, Pub. L. 95–600, to which such amendment relates, see section 201 of Pub. L. 96–222, set out as a note under section 32 of this title.
Amendment by section 213(c)(3)(B) of Pub. L. 94–455 applicable in the case of partnership taxable years beginning after Dec. 31, 1975, see section 213(f)(1) of Pub. L. 94–455, set out as a note under section 709 of this title.
For provisions directing that if any amendments made by subtitle A or subtitle C of title XI [§§ 1101–1147 and 1171–1177] or title XVIII [§§ 1800–1899A] of Pub. L. 99–514 require an amendment to any plan, such plan amendment shall not be required to be made before the first plan year beginning on or after Jan. 1, 1989, see section 1140 of Pub. L. 99–514, as amended, set out as a note under section 401 of this title.
Written determinations for this section
These documents, sometimes referred to as "Private Letter Rulings", are taken from the IRS Written Determinations page; the IRS also publishes a fuller explanation of what they are and what they mean. The collection is updated (at our end) daily. It appears that the IRS updates their listing every Friday.
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- Terms Defined : 2017-11-24
- Special Rules for Decommissioning Cost : 2017-11-24
- Self-Dealing : 2017-11-24
- Section 704 c Considerations : 2017-11-24
- Partnership Agreement : 2015-04-24
- Partner : 2014-03-14
- Partnership : 2013-07-19
- Organizations Treated as a Partnership : 2013-07-19
- Partnership : 2013-06-07
- Joint Ventures : 2013-06-07
- Partnership : 2012-08-31
- Partnerships : 2012-08-31
- Partner : 2010-01-29
- Related Parties : 2010-01-15
- Sale of Real Property : 2010-01-15
- Terms Defined : 2010-01-15
- Definitions : 2006-02-10
- Terms Defined : 2006-02-10
- General Rule : 2005-04-08
- Religious and Apostolic Organizations : 2005-04-08
- Partnerships : 2005-04-08
- Return of Partnership Income : 2005-04-08
- Organizations Not Treated as a Partnership : 2005-04-08
- Persons Treated as Grantors : 2003-06-06
- Partnership : 2003-06-06
- Fixed Investment Trusts : 2003-06-06
- Economic Effect : 2003-06-06
- Character of Items : 2003-06-06
- Definition of Wholly Exempt : 2003-06-06
- Investing Partnership : 2003-01-31
- Investing Partnership : 2003-01-31
- Organizations Not Treated as a Partnership : 2002-04-19
- Termination : 2002-04-05
- Nonrecognition of Gain or Loss on Contributions : 2002-04-05
- Partnerships v. Associations : 2002-04-05
- General Business Credit : 2002-04-05
- Partner's Distributive Share : 2002-04-05
- Terms Defined : 2002-04-05
- Basis of Property Contributed to Partnership : 2002-04-05
- Basis of Contributing Partner's Interest : 2002-04-05
- Income and Credits of Partner : 2002-04-05
- Empowerment Zone Employment Credit : 2002-04-05
- Organizations Treated as a Partnership : 2002-01-11
- Definitions : 2001-11-02
- Organizations Treated as a Partnership : 2001-11-02
- Organizations Treated as a Partnership : 2001-09-28
- Organizations Not Treated as a Partnership : 2001-07-13
- Manner of Making Election : 2001-07-13
- Deferred Payments : 2001-07-13
- Sales by Nonresidents : 2001-07-13
- Lawful Permanent Resident Green Card Test : 2001-07-13
- Transfer for Consideration : 2001-05-18
- Partner : 2001-05-18
- Additions to Irrevocable Trusts : 2001-05-18
- Organizations Treated as a Partnership : 2001-05-18
- Nonrecognition of Gain or Loss on Contributions : 2000-04-28
- Transfer for Consideration : 2000-04-28
- Terms Defined : 2000-04-28
- Limited Partnerships : 2000-04-28
- Possession of Incidents of Ownership : 2000-04-28
- Investment Company Exception : 2000-04-28
- Organization of Past or Present Armed Forces Members : 1999-06-11
- Terms Defined : 1999-06-11
- Wagering Tax Taxable v. Not Taxable : 1999-06-11
- Associations v. Corporations : 1999-06-11
- Association v. Trust : 1999-06-11
- Partnerships v. Associations : 1999-06-11
- Organizations Not Treated as a Partnership : 1999-06-11
- Limitation on Allowance of Losses : 1999-06-11
- Organizations Not Treated as a Partnership : 1999-06-04
- Nonrecognition of Gain or Loss on Contributions : 1999-04-09
- Terms Defined : 1999-04-09
- Guaranteed Payments : 1999-04-09
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