Data / Federal rules / 2024-18925
Statutory Disallowance of Deductions for Certain Qualified Conservation Contributions Made by Partnerships and S Corporations; Correction
The Internal Revenue Service published this final rule in the Federal Register on August 30, 2024. It took effect on August 30, 2024.
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What the agency says
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.
Key facts
- Document number
- 2024-18925
- Type
- Final rule
- Action
- Final rule; correction and correcting amendments
- Agency
- Treasury Department; Internal Revenue Service
- Published
- August 30, 2024
- Takes effect
- August 30, 2024
- Dates
- These corrections are effective on August 30, 2024. For dates of applicability see Sec. Sec. 1.170A-14(o)(1), 1.170A-16(g)(2), 1.706- 3(e), and 1.706-4(e)(2)(xiii) and (e)(3)(ii).
- Docket
- TD 9999
- Regulation ID (RIN)
- 1545-BQ90
- Code of Federal Regulations
- 26 CFR 1
- Topics
- Income taxes; Reporting and recordkeeping requirements
- Pages
- 2
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Everything from the Internal Revenue Service · Rules on income taxes · Rules on reporting and recordkeeping requirements · Published in August 2024
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