Sec. 3615. Charitable contributions and foreign taxes taken into account in determining limitation on allowance of partner’s share of loss
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Subsection
(d)of section 704 is amended— by striking A partner’s distributive share and inserting the following: A partner’s distributive share , by striking Any excess of such loss and inserting the following: Any excess of such loss , and by adding at the end the following new paragraph: In determining the amount of any loss under paragraph (1), there shall be taken into account as a deduction the partner’s distributive share of— the adjusted basis of charitable contributions described in paragraph
(4)of section 702(a), and the amount of taxes described in paragraph
(6)of such section. . The amendments made by this section shall apply to partnership taxable years beginning after December 31, 2014.