To amend the Internal Revenue Code of 1986 to provide for the treatment of partnership interests held by partners providing services.

Summary

Amends the Internal Revenue Code to: (1) to set forth a special rule for the inclusion in gross income of partnership interests transferred in connection with the performance of services; (2) treat as ordinary income or loss net income or loss from an investment services partnership interest; (3) include income and loss from an investment services partnership interest for purposes of determining net earnings from self-employment; (4) apply the rule treating gain from sales between related persons as ordinary income to certain partnership interests; and (5) exempt income from investment services partnership interests from treatment as qualifying income of publicly traded partnerships. Defines "investment services partnership interest" as any interest in a partnership held by a person who provides services to a partnership by: (1) advising the partnership about investing in, purchasing, or selling specified assets; (2) managing, acquiring, or disposing of specified assets; or (3) arranging financing with respect to acquiring specified assets.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 2 April 2009

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• Introduced in House (PDF)

  Introduced in House · EN · 2 April 2009

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• Introduced in House

  summary · EN · 2 April 2009

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