[Code of Federal Regulations]
[Title 26, Volume 1]
[Revised as of April 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 26CFR1.58-5]

[Page 526-527]
 
                       TITLE 26--INTERNAL REVENUE
 
     CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY
 
PART 1--INCOME TAXES--Table of Contents
 
Sec. 1.58-5  Common trust funds.

    Section 58(e) provides that each participant in a common trust fund 
(as defined in section 584 and the regulations thereunder) is to treat 
as items of tax preference his proportionate share of the items of tax 
preference of the fund computed as if the fund were an individual 
subject to the minimum tax. The participant's proportionate share of the 
items of tax preference of the fund is determined as if the participant 
had realized, or incurred, his pro rata share of items of income, gain, 
loss, or

[[Page 527]]

deduction of the fund directly from the source from which realized or 
incurred by the fund. The participant's pro rata share of such items is 
determined in a manner consistent with section 1.584-2(c). Items of tax 
preference apportioned to a participant pursuant to this paragraph are 
taken into account by the participant for the participant's taxable year 
in which or with which the taxable year of the trust ends.

[T.D. 7564, 43 FR 40484, Sept. 12, 1978]