of the assets of such partnership and not as an interest in a partnership. . (4) Section 1031(h) is amended to read as follows: (h) Special rules for foreign real property Real property located in the United States and real property located outside the United States are not property of a like kind. . (5) The heading of section 1031 is amended by striking property and inserting real property . (6) The table of sections for part III of subchapter O of chapter 1 is amended by striking the item relating to section 1031 and inserting the following new item: Sec. 1031. Exchange of real property held for productive use or investment. . (c) Effective date (1) In general Except as otherwise provided in this subsection, the amendments made by this section shall apply to exchanges completed after December 31, 2017. (2) Transition rule The amendments made by this section shall not apply to any exchange if— (A) the property disposed of by the taxpayer in the exchange is disposed of on or before December 31 2017, or (B) the property received by the taxpayer in the exchange is received on or before December 31, 2017. 3304. Revision of treatment of contributions to capital (a) Inclusion of contributions to capital Part II of subchapter B of chapter 1 is amended by inserting after section 75 the following new section: 76. Contributions to capital (a) In general Gross income includes any contribution to the capital of any entity. (b) Treatment of contributions in exchange for stock, etc (1) In general In the case of any contribution of money or other property to a corporation in exchange for stock of such corporation— (A) such contribution shall not be treated for purposes of subsection (a) as a contribution to the capital of such corporation (and shall not be includible in the gross income of such corporation), and (B) no gain or loss shall be recognized to such corporation upon the issuance of such stock. (2) Treatment limited to value of stock For purposes of this subsection, a contribution of money or other property to a