[Federal Register Volume 61, Number 63 (Monday, April 1, 1996)]
[Rules and Regulations]
[Page 14247]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-7655]



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DEPARTMENT OF THE TREASURY
26 CFR Part 1

[TD 8175]


Income Tax; Taxable Years Beginning After December 31, 1953; 
Limitations on Passive Activity Losses and Credits; Correction

AGENCY: Internal Revenue Service, Treasury.

ACTION: Correcting amendment.

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SUMMARY: This document contains a correction to temporary regulations 
(TD 8175), which were published in the Federal Register Thursday, 
February 25, 1988 (53 FR 5686), relating to the limitations on passive 
activity credits.

EFFECTIVE DATE: February 25, 1988.

FOR FURTHER INFORMATION CONTACT: Michael L. Slaughter, (202) 622-7190 
(not a toll-free number).

SUPPLEMENTARY INFORMATION:

Background

    The temporary regulations that are the subject of these correction 
are under sections 469 of the Internal Revenue Code.

Need for Correction

    As published, the temporary regulations (TD 8175) contain errors 
which may prove to be misleading and are in need of clarification.

List of Subjects in 26 CFR Part 1

    Income taxes, Reporting and recordkeeping requirements.

    Accordingly, 26 CFR part 1 is corrected by making the following 
correcting amendments:

PART 1--INCOME TAXES

    Paragraph 1. The authority citation for part 1 continues to read in 
part as follows:

    Authority: 26 U.S.C. 7805 * * *


Sec. 1.469-5T  [Corrected]

    Par. 2. In Sec. 1.469-5T, paragraphs (d)(A) and (d)(B) are 
redesignated as paragraphs (d)(1) and (d)(2).
Cynthia E. Grigsby,
Chief, Regulations Unit, Assistant Chief Counsel (Corporate).
[FR Doc. 96-7655 Filed 3-29-96; 8:45 am]
BILLING CODE 4830-01-U