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Statutory Disallowance of Deductions for Certain Qualified Conservation Contributions Made by Partnerships and S Corporations; Correction

tax-irs · IRS · Rule · Published 2024-08-30 · Effective 2024-08-30 · 89 FR 70486

Document

Document number
2024-18925
Federal Register citation
89 FR 70486
CFR reference
26 CFR 1
Type
Rule
Action
Final rule; correction and correcting amendments.
Category
tax-irs
Sub-agency
IRS
Publication date
2024-08-30
Effective date
2024-08-30
Treasury docket
TD 9999

Abstract

This document contains corrections to Treasury Decision 9999, which was published in the Federal Register on Friday, June 28, 2024. The document issued final regulations concerning the statutory disallowance rule enacted by the SECURE 2.0 Act of 2022 to disallow a Federal income tax deduction for a qualified conservation contribution made by a partnership or an S corporation after December 29, 2022, if the amount of the contribution exceeds 2.5 times the sum of each partner's or S corporation shareholder's relevant basis.

Source

Authoritative
Federal Register document
Machine
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