IRS Publications 541 and 550 now available
The two most commonly cited IRS Publications relative to investment clubs are IRS Publication #541 - Partnerships and IRS Publication #550 - Investment Income and Expenses     The latest versions (1999 tax year) of each are available in the Trez_Talk files area.  
You'll find them in the 'IRS Publications' folder at .    Feel free to download these files at any time.
Jerry Dressel
St.Louis, Missouri