1.709-1—Treatment of organization and syndication costs.

(a) General rule. Except as provided in paragraph (b) of this section, no deduction shall be allowed under chapter 1 of the Code to a partnership or to any partner for any amounts paid or incurred, directly or indirectly, in partnership taxable years beginning after December 31, 1975, to organize a partnership, or to promote the sale of, or to sell, an interest in the partnership.

(b) [Reserved] For further guidance, see § 1.709-1T.

Code of Federal Regulations

[T.D. 7891, 48 FR 20048, May 4, 1983, as amended by T.D. 9411, 73 FR 38914, July 8, 2008]

CFR

1.709-1—Treatment of organization and syndication costs.

Code of Federal Regulations