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Title 26 - INTERNAL REVENUEChapter I - INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURYSubchapter A - INCOME TAXPart 1 - INCOME TAXESESTATES, TRUSTS, BENEFICIARIES, AND DECEDENTS
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Section 1.706-2T - Temporary regulations; question and answer under the Tax Reform Act of 1984

26 C.F.R. § 1.706-2T

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Current through September 30, 2024
Section 1.706-2T - Temporary regulations; question and answer under the Tax Reform Act of 1984

Question 1: For purposes of section 706(d), how is an otherwise deductible amount that is deferred under section 267(a)(2) treated?

Answer 1: In the year the deduction is allowed, the deduction will constitute an allocable cash basis item under section 706(d)(2)(B)(iv).

26 C.F.R. §1.706-2T

T.D. 7991, 49 FR 47001, Nov. 30, 1984

Secs. 267(f)(2)(B), 706(d)(2)(B)(iv), 1502, and 7805, Internal Revenue Code of 1954 (98 Stat. 704, 26 U.S.C. 267 ; 98 Stat. 589, 26 U.S.C. 706 ; 68A Stat. 367, 26 U.S.C. 1502 ; 68A Stat. 917, 26 U.S.C. 7805 )