---
urn: urn:us-la:rs:47:217
citation: "R.S. 47:217"
status: active
breadcrumb: "Title 47 › Subtitle II › Chapter 1 › Part II › Subpart D"
acts_citations:
  - { year: 1958, number: 441, section: 2, effective_date: null, role: enactment }
---

# Recognition and character of gain or loss on sale or exchange

In the case of a sale or exchange of an interest in a partnership, gain or loss shall be recognized to the transferor partner. Such gain or loss shall be considered as gain or loss from the sale or exchange of a capital asset.