Examlex
Gains on sales or exchanges between a partner and the partnership are treated as ordinary income if the partner owns more than a 50% interest in the capital or profits and the asset that is exchanged is not a capital asset in the transferee's hands.
Event Occur
A phrase suggesting the happening or occurrence of an event or action.
Time-Tested
Proven to be reliable or effective over a long period.
Deductive Reasoning
A logical process in which a conclusion follows necessarily from the stated premises, proceeding from the general to the specific.
Inductive Reasoning
A logical process in which multiple premises, all believed true, are combined to obtain a specific conclusion.
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