Section 737

Gain recognized under the preceding sentence shall be in addition to any gain recognized under section 731.
Section 737. Internal revenue code 737. 737 a 1 the excess if any of a the fair market value of property other than money received in the distribution over b the adjusted basis of such partner s interest in the partnership immediately before the distribution reduced but not below zero by the amount of money received in the distribution or. Section 737 504 shall not apply to any trust for which notice has been given unless the trust is amended to comply with the terms of this part.
B excess distribution. Recognition of precontribution gain in case of certain distributions to contributing partner on westlaw findlaw codes are provided courtesy of thomson reuters westlaw the industry leading online legal research system. 737 506 power to amend trust instrument.
Section 737 and this section apply only to the extent that a distribution by a partnership is a distribution to a partner acting in the capacity of a partner within the meaning of section 731 except that section 737 and this section do not apply to the extent that section 751 b applies to the distribution.