LexisNexis® Legal Newsroom
A Detailed Analysis of a Disguised Sales Transaction – In re G-I Holdings

Althou gh exceptions apply, a partner does not generally recognize gain or loss when he or she contributes property to a partnership. IRC Sec. 721(a) . See also Lexis Tax Advisor -- Federal Code, IRC Sec. 721(a) ; Lexis Tax Advisor -- Federal Topical, Sec. 2D:1.01[4] . See also IRC Sec. 721(b) and Lexis...