[Federal Register Volume 61, Number 39 (Tuesday, February 27, 1996)]
[Rules and Regulations]
[Pages 7213-7214]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-4177]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[TD 8642]
RIN 1545-AR48; 1545-AR93
Recognition of Gain or Loss by Contributing Partner on
Distribution of Contributed Property or Other Property; Correction
AGENCY: Internal Revenue Service, Treasury.
ACTION: Correction to final regulations.
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SUMMARY: This document contains corrections to final regulations (TD
8642), which were published in the Federal Register on Tuesday,
December 26, 1995 (60 FR 66727) relating to the recognition of gain or
loss on certain distributions of contributed property by a partnership,
and to the recognition of gain on certain distributions to a
contributing partner.
EFFECTIVE DATE: January 9, 1995.
FOR FURTHER INFORMATION CONTACT: Stephen J. Coleman at (202) 622-3060,
(not a toll-free number).
SUPPLEMENTARY INFORMATION:
Background
The final regulations that are the subject of these corrections are
under sections 704 and 737 of the Internal Revenue Code.
Need for Correction
As published, the final regulations contain errors which may prove
to be misleading and are in need of clarification.
Correction of Publication
Accordingly, the publication of the final regulations (TD 8642),
which are the subject of FR Doc. 95-30870, is corrected as follows:
[[Page 7214]]
Sec. 1.737-3 [Corrected]
1. On page 66737, column 2, Sec. 1.737-3 (e), second paragraph from
the bottom of the column, the paragraph designated ``(e) Example 1.''
is correctly designated ``Example 1.''
2. On page 66737, column 3, Sec. 1.737-3 (e), paragraph (i) of
Example 2, line 4, the language ``nondepreciable real property to the''
is corrected to read ``nondepreciable real property located in the
United States to the''.
3. On page 66737, column 3, Sec. 1.737-3 (e), paragraph (ii) of
Example 2, line 2, the language ``Property B, nondepreciable real
property,'' is corrected to read ``Property B, nondepreciable real
property located outside the United States,''.
Cynthia E. Grigsby,
Chief, Regulations Unit,
Assistant Chief Counsel (Corporate).
[FR Doc. 96-4177 Filed 2-26-96; 8:45 am]
BILLING CODE 4830-01-U
