### Question
How is the "inventory item" defined?


### Answer
The term **inventory item** is defined in *26 U.S.C. § 724* as follows -

> given such term by section 751(d) (determined by treating any reference to the partnership as referring to the partner and by applying section 1231 without regard to any holding period therein provided).

#### Citation:
  - *26 U.S.C. § 724*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter K-Partners and Partnerships > PART II-CONTRIBUTIONS, DISTRIBUTIONS, AND TRANSFERS > Subpart A-Contributions to a Partnership**

