§ 702.
(a)
General rule
In determining his income tax, each partner shall take into account separately his distributive share of the partnership’s—
(1)
gains and losses from sales or exchanges of capital assets held for not more than 1 year,
(2)
gains and losses from sales or exchanges of capital assets held for more than 1 year,
(3)
gains and losses from sales or exchanges of property described in section 1231 (relating to certain property used in a trade or business and involuntary conversions),
(4)
charitable contributions (as defined in section 170(c)),
(5)
dividends with respect to which section 1(h)(11) or part VIII of subchapter B applies,
(6)
taxes, described in section 901, paid or accrued to foreign countries and to possessions of the United States,
(7)
other items of income, gain, loss, deduction, or credit, to the extent provided by regulations prescribed by the Secretary, and
(8)
taxable income or loss, exclusive of items requiring separate computation under other paragraphs of this subsection.
([Aug. 16, 1954, ch. 736], [68A Stat. 239]; [Pub. L. 88–272, title II, § 201(d)(7)], Feb. 26, 1964, [78 Stat. 32]; [Pub. L. 94–455, title XIV, § 1402(b)(1)(L)], (2), title XIX, §§ 1901(b)(1)(I)(i), (ii), 1906(b)(13)(A), Oct. 4, 1976, [90 Stat. 1732], 1791, 1834; [Pub. L. 96–223, title IV, § 404(b)(5)], Apr. 2, 1980, [94 Stat. 307]; [Pub. L. 97–34, title III, § 301(b)(5)], (6)(C), Aug. 13, 1981, [95 Stat. 270]; [Pub. L. 97–248, title IV, § 402(c)(1)], Sept. 3, 1982, [96 Stat. 667]; [Pub. L. 97–448, title I, § 103(a)(4)], Jan. 12, 1983, [96 Stat. 2375]; [Pub. L. 98–369, div. A, title X, § 1001(b)(9)], (e), July 18, 1984, [98 Stat. 1011], 1012; [Pub. L. 99–514, title VI, § 612(b)(5)], Oct. 22, 1986, [100 Stat. 2250]; [Pub. L. 108–27, title III, § 302(e)(8)], May 28, 2003, [117 Stat. 764].)