[Federal Register Volume 69, Number 92 (Wednesday, May 12, 2004)]
[Rules and Regulations]
[Pages 26304-26305]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-10789]


=======================================================================
-----------------------------------------------------------------------

DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 9124]
RIN 1545-BA69


At-Risk Limitations; Interest Other Than That of a Creditor; 
Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction to final regulations.

-----------------------------------------------------------------------

SUMMARY: This document contain a correction to final regulations that 
were published in the Federal Register on

[[Page 26305]]

Monday, May 3, 2004 (69 FR 24078) relating to the treatment, for 
purposes of the at-risk limitations, of amounts borrowed from a person 
who has an interest in an activity other than that of a creditor or 
from a person (other than the borrower) with such an interest.

DATES: This correction is effective May 3, 2004.

FOR FURTHER INFORMATION CONTACT: Tara P. Volungis or Christopher L. 
Trump, (202) 622-3070 (not a toll-free number).

SUPPLEMENTARY INFORMATION:

Background

    The final regulations that is the subject of this correction is 
under section 465 of the Internal Revenue Code.

Need for Correction

    As published, the final regulation contains an error that may prove 
to be misleading and is in need of clarification.

Correction of Publication

0
Accordingly, the publication of the final regulations (TD 9124), that 
were the subject of FR Doc. 04-10010, is corrected as follows:


Sec.  1.465-8  [Corrected]

0
In Sec.  1.465-8(b)(4), Example 1., the language, ``$30,000 payable to 
A. The three partners, B, C, and D, each assumes personal liability 
for''. is corrected to read ``$30,000 payable to A. Each of the three 
partners, B, C, and D, assumes personal liability for''.

Cynthia E. Grigsby,
Acting Chief, Publications and Regulations Branch, Legal Processing 
Division, Associate Chief Counsel (Procedures and Administration).
[FR Doc. 04-10789 Filed 5-11-04; 8:45 am]
BILLING CODE 4830-01-P