Rev. Rul. 89-75

1989-1 C.B. 319, 1989-21 I.R.B. 22.

                       Internal Revenue Service

                                 Revenue Ruling

                               RULINGS; OBSOLETE

                            Published: May 22, 1989

Section 7805. - Rules and Regulations, 26 CFR 301.7805-1: Rules and regulations.

  Rulings; obsolete. For taxable years ending after October 4, 1976, expenses incurred in the sale of property by an estate, not as a dealer, may not be used to offset the amount of the sales price of the property in determining gain or loss for federal income tax purposes if the expenses are allowed as a deduction for federal estate tax purposes. Rev. Rul. 71-173 obsoleted.

ISSUE

  Periodically, the Internal Revenue Service has obsoleted revenue rulings which, although not specifically revoked or superseded, are not considered determinative with respect to future transactions because (1) the applicable statutory provisions have been changed or repealed; (2) the ruling position is specifically covered by statute, regulations, or a subsequent published position; or (3) the facts set forth no longer exist or are not sufficient to permit application of the current statute.

  The revenue ruling listed below is hereby declared to be obsolete:

                     Rev. Rul.            No.

                     _________            ___

                       71-173        1971-1 C.B. 204

  The purposes of this declaration of obsoleteness is to make clear to all concerned that the above listed revenue ruling is not determinative with respect to taxable years ending after October 4, 1976.

Rev. Rul. 89-75, 1989-1 C.B. 319, 1989-21 I.R.B. 22.