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SUBCHAPTER K [i] (MEMORANDUM 7, September 19, 1979)

handle is hein.ali/aliftp0353 and id is 1 raw text is: THIS DRAFT IS PRIVATE AND CONFIDENTIAL
(Not to be sold, offered for sale, or otherwise published)
The American Law Institute
Memorandum No. 7
Subjects Covered:
Timing of Income Inclusion when a Partner Dies (§706(c)): Like-kind Ex-
changes of Partnership Interests, Basis Adjustments (§§734, 743, 754 and
755); Restrictions on Sales Between Partners and Partnerships (§707(b) (1));
Gain on Transfers of Ordinary Income Assets Between Partners and Part-
nerships (§707(b)(2)); Linking of Corresponding Items of Income and
Deduction (§§267 and 706(a)).
Submitted to the Consultants for consideration at their meeting on October 4 (at 10:00 a.m.), 5, and 6,
1979 at the 57th Floor. 200 East Randolph Drive, Chicago, Illinois

September 19, 1979

The Executive Office
4025 Chestnut Street
Philadelphia, PA 19104

*This is a preliminary draft submitted on a private and confidential basis to a limited group for the sole
purpose of study and criticism. It has not been promulgated or approved by the Council or the
members of The American Law Institute.
As an unpublished document intended for internal use, this draft should not be generally circulated or
distributed, nor should it be quoted from or cited or its substance disclosed in any public address or

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