5
the facts as they existed in the taxable year 1985, with respect
to Westco, and taxable years 1985 through 1988, with respect to
Makalu; i.e., whether "each partner's share of each partnership
item is the same as his share of every other item."
The same share requirement of section 6231(a)(1)(B)(i)(II)
is satisfied if during all periods within a taxable year, each
partner's share of each partnership item specified in section
301.6231(a)(3)-1(a)(1), Proced. & Admin. Regs., is the same as
that partner's share of each of the other partnership items
specified in that section during that period. Moreover,
if each partner's share of each partnership item would be
the same as his or her share of every other item but for
allocations made under section 704(c) or allocations made
under similar principles in accordance with applicable
regulations the requirement of section 6231(a)(1)(B)(i)(II)
shall be considered satisfied. Similarly, special basis
adjustments pursuant to sections 754, 743, and 734 shall not
be taken into account in determining whether the "same
share" requirement is met.
Sec. 301.6231(a)(1)-1T(a)(3), Temporary Proced. & Admin. Regs.,
52 Fed. Reg. 6789 (Mar. 5, 1987).
The partnership items referred to in these regulations and
taken into consideration for purposes of the "same share"
requirement are:
(i) Items of income, gain, loss, deduction, or credit of the
partnership;
(ii) Expenditures by the partnership not deductible in
computing its taxable income (for example, charitable
contributions);
(iii) Items of the partnership which may be tax preference
items under section 57(a) for any partner;
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