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Partner's Distributive Share; Correction

Document Details

Information about this document as published in the Federal Register.

Published Document

This document has been published in the Federal Register. Use the PDF linked in the document sidebar for the official electronic format.

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Internal Revenue Service (IRS), Treasury.


Final regulations; correction.


This document contains a correction to final regulations (TD 9398) that were published in the Federal Register on Monday, May 19, 2008 (73 FR 28699) providing rules for testing whether the economic effect of an allocation is substantial within the meaning of section 704(b) where partners are look-through entities or members of a consolidated group. The final regulations clarify the application of section 704(b) to partnerships the interests of which are owned by look-through entities and members of consolidated groups and, through an example, reiterate the effect of other provisions of the Internal Revenue Code on partnership allocations.


This correction is effective June 12, 2008, and is applicable on May 19, 2008.

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Jonathan E. Cornwell and Kevin I. Babitz at (202) 622-3050 (not a toll-free number).

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The final regulations that are the subject of this document are under section 704 of the Internal Revenue Code.

Need for Correction

As published, final regulations (TD 9398) contain an error that may prove to be misleading and is in need of clarification.

Correction of Publication

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Accordingly, the publication of the final regulations (TD 9398), which were the subject of FR Doc.

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On page 28701, column 2, in the preamble, under the paragraph heading “B. The Baseline for Comparison in § 1.704-1(b)(2)(iii)”, line 2 from the bottom of the second paragraph, the language “and (2) and the conclusions reached by” is corrected to read “and (2) and the conclusions reached by”.

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LaNita Van Dyke,

Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel, (Procedure and Administration).

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[FR Doc. E8-13251 Filed 6-11-08; 8:45 am]