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TREAS/IRS RIN: 1545-BA50 Publication ID: Fall 2002 
Title: Determination of Basis of Partner's Interest; Special Rules 
Abstract: These proposed regulations will provide the appropriate basis adjustment under section 705 in certain situations in which a corporation has a direct or indirect interest in a partnership that owns stock in that corporation where the partnership distributes money or other property to another partner and that partner recognizes gain on the distribution during a year in which the partnership does not have an election under section 754 in effect, and the partnership subsequently sells or exchanges the stock. 
Agency: Department of the Treasury(TREAS)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: Not Yet Determined     (To search for a specific CFR, visit the Code of Federal Regulations.)
Legal Authority: 26 USC 7805   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  12/00/2002    
Additional Information: REG-167648-01 Drafting attorney: Barbara MacMillan (202) 622-3050 Reviewing attorney: David Haglund (202) 622-3050 Treasury attorney: Stephanie Robinson (202) 622-9858 CC:P&SI
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: No  Federalism: No 
Included in the Regulatory Plan: No 
Agency Contact:
Barbara J. Campbell
Attorney-Advisor
Department of the Treasury
Internal Revenue Service
1111 Constitution Avenue NW., Room 5106,
Washington, DC 20224
Phone:202 317-4137
Fax:855 591-7867
Email: barbara.j.campbell@irscounsel.treas.gov