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TREAS/IRS RIN: 1545-BP68 Publication ID: Spring 2024 
Title: Guidance Under Section 704(d) (Basis Limitation on Allowance of Losses) 
Abstract:

This regulation will provide guidance on the manner in which charitable contributions and foreign taxes are taken into account for purposes of determining a partner’s limitation on the allowance of partnership losses under section 704(d) of the Internal Revenue Code.

 
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: 26 CFR 704(d)     (To search for a specific CFR, visit the Code of Federal Regulations.)
Legal Authority: 26 U.S.C. 7805    26 U.S.C. 704(d)   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  07/00/2024 
Additional Information: REG-124325-19 (NPRM) Drafter attorney: Brian J. Barrett (202) 317-6850 Reviewer attorney: Jennifer N. Keeney (202) 317-6850 Treasury attorney: N/A CC:PSI:B01
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: Businesses  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Brian J. Barrett
Attorney
Department of the Treasury
Internal Revenue Service
1111 Constitution Avenue, NW,
Washington, DC 20224
Phone:202 317-6850
Email:  brian.j.barrett@irscounsel.treas.gov