77-2728. Income tax; partnership; income; how determined.
Each item of partnership income, gain, loss, or deduction shall have the same character for a partner under the provisions of the Nebraska Revenue Act of 1967 as it has for federal income tax purposes. Where an item is not characterized for federal income tax purposes, it shall have the same character for a partner as if realized directly from the source from which realized by the partnership or incurred in the same manner as incurred by the partnership.
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Annotations
Character of income realized by a partnership remains the same when a partner accounts for it. Altsuler v. Peters, 190 Neb. 113, 206 N.W.2d 570 (1973).