A.  General rule.  In determining his income tax, each partner shall take into account separately his distributive share, whether or not distributed, of the partnership‘s:

(1)  gains and losses from sales or exchanges of capital assets,

(2)  charitable contributions (as defined in La. Rev. Stat. 47:57),

(3)  other items of income, gain, loss, deduction, or credit, to the extent provided by regulations prescribed by the collector, and

(4)  taxable income or loss, exclusive of items requiring separate computation under other provisions of this Subsection.  

B.  Character of items constituting distributive share.  The character of any item of income, gain, loss, deduction, or credit included in a partner’s distributive share under Subsection A(1) through A(3) of this Section shall be determined as if such item were realized directly from the source from which realized by the partnership, or incurred in the same manner as incurred by the partnership.  

C.  Gross income of a partner.  In any case where it is necessary to determine the gross income of a partner for purposes of this Chapter, such amount shall include his distributive share of the gross income of the partnership, whether or not such share has been actually distributed.  

Amended by Acts 1958, No. 441, §1.