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TREAS/IRS RIN: 1545-BL22 Publication ID: Spring 2025 
Title: Fractions Rule and Partnership Allocations 
Abstract:

These regulations relate to the application of section 514(c)(9)(E) of the Internal Revenue Code (Code) to partnerships that hold debt-financed real property and have one or more (but not all) qualified tax-exempt organization partners within the meaning of section 514(c)(9)(C). The regulations amend the regulations under section 514(c)(9)(E) to allow certain allocations resulting from specified common business practices to comply with the rules under section 514(c)(9)(E). These regulations affect partnerships with qualified tax-exempt organization partners and their partners.

 
Agency: Department of the Treasury(TREAS)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: No  Unfunded Mandates: No 
EO 14192 Designation: Not subject to, not significant 
CFR Citation: 26 CFR 1.514(c)-2   
Legal Authority: 26 U.S.C. 7805    26 U.S.C. 514(C)(9)(E)(iii)   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  11/23/2016  81 FR 84518   
NPRM Comment Period End  02/21/2017 
Final Action  05/00/2026 
Additional Information: REG-136978-12 Drafter attorney: Joseph T. Alston (202) 317-5279; and Jeremy M. Brown (202) 317-5279 Reviewer attorney: Mary Beth Carchia (202) 317-5279; Robert D. Alinsky (202) 317-5279; and Caroline E. Hay (202) 317-6850 Treasury attorney: Vivek Chandrasekhar (202) 622-1082; and Drew Tidwell (202) 890-7687 CC:PT&E
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Joseph T. Alston
Attorney
Department of the Treasury
Internal Revenue Service
1111 Constitution Avenue NW, Room 5017,
Washington, DC 20224
Phone:202 317-5279
Fax:855 591-7865
Email:  joseph.t.alston@irscounsel.treas.gov

Jeremy M. Brown
Attorney
Department of the Treasury
Internal Revenue Service
1111 Constitution Avenue NW, Room 5007,
Washington, DC 20224
Phone:202 317-5279
Fax:855 591-7865
Email: jeremy.m.brown2@irscounsel.treas.gov