[Code of Federal Regulations]
[Title 26, Volume 8]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 26CFR1.752-0]

[Page 553-554]
 
                       TITLE 26--INTERNAL REVENUE
 
    CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY 
                               (CONTINUED)
 
Determination of Tax Liability--Table of Contents
 
Sec. 1.752-0  Table of Contents.

    This section lists the captions that appear in Sec. Sec. 1.752-1 
through 1.752-5.

           Sec. 1.752-1 Treatment of partnership liabilities.

    (a) Definitions.
    (1) Recourse liability defined.
    (2) Nonrecourse liability defined.
    (3) Related person.
    (b) Increase in partner's share of liabilities.
    (c) Decrease in partner's share of liabilities.
    (d) Assumption of liability.
    (e) Property subject to a liability.
    (f) Netting of increases and decreases in liabilities resulting from 
same transaction.
    (g) Example.
    (h) Sale or exchange of partnership interest.
    (i) Bifurcation of partnership liabilities.

         Sec. 1.752-2 Partner's share of recourse liabilities.

    (a) In general.
    (b) Obligation to make a payment.
    (1) In general.
    (2) Treatment upon deemed disposition.
    (3) Obligations recognized.
    (4) Contingent obligations.
    (5) Reimbursement rights.
    (6) Deemed satisfaction or obligation.
    (c) Partner or related person as lender.
    (1) In general.
    (2) Wrapped debt.
    (d) De minimis exceptions.
    (1) Partner as lender.
    (2) Partner as guarantor.
    (e) Special rule for nonrecourse liability with interest guaranteed 
by a partner.
    (1) In general.
    (2) Computation of present value.
    (3) Safe harbor.
    (4) De minimis exception.
    (f) Examples.
    (g) Time-value-of-money considerations.
    (1) In general.
    (2) Valuation of an obligation.
    (3) Satisfaction of obligation with partner's promissory note.
    (4) Example.

[[Page 554]]

    (h) Partner providing property as security for partnership 
liability.
    (1) Direct pledge.
    (2) Indirect pledge.
    (3) Valuation.
    (4) Partner's promissory note.
    (i) Treatment of recourse liabilities in tiered partnerships.
    (j) Anti-abuse rules.
    (1) In general.
    (2) Arrangements tantamount to a guarantee.
    (3) Plan to circumvent or avoid the regulations.
    (4) Examples.

        Sec. 1.752-3 Partner's share of nonrecourse liabilities.

    (a) In general.
    (b) Examples.

                      Sec. 1.752-4 Special rules.

    (a) Tiered partnerships.
    (b) Related person definition.
    (1) In general.
    (2) Person related to more than one partner.
    (i) In general.
    (ii) Natural persons.
    (iii) Related partner exception.
    (iv) Special rule where entity structured to avoid related person 
status.
    (A) In general.
    (B) Ownership interest.
    (C) Example.
    (c) Limitation.
    (d) Time of determination.

           Sec. 1.752-5 Effective dates and transition rules.

    (a) In general.
    (b) Election.
    (1) In general.
    (2) Time and manner of election.
    (c) Effect of section 708(b)(1)(B) termination on determining date 
liabilities are incurred or assumed.

[T.D. 8380, 56 FR 66350, Dec. 23, 1991]