net precontribution gain
Defined in 1 place of the United States Code.
For purposes of this section, the term "net precontribution gain" means the net gain (if any) which would have been recognized by the distributee partner under section 704(c)(1)(B) if all property which—
Source
- 1994–present26 U.S.C. § 737Internal Revenue Code · Recognition of precontribution gain in case of certain distributions to contributing partner · for purposes of this section
For purposes of this section, the term “net precontribution gain” means the net gain (if any) which would have been recognized by the distributee partner under section 704(c)(1)(B) if all property which—
(1) had been contributed to the partnership by the distributee partner within 7 years of the distribution, and
(2) is held by such partnership immediately before the distribution,
Source
- 201326 U.S.C. § 737Internal Revenue Code · Recognition of precontribution gain in case of certain distributions to contributing partner · for purposes of this section