[Federal Register Volume 66, Number 49 (Tuesday, March 13, 2001)]
[Proposed Rules]
[Page 14512]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-5959]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[REG-105235-99]
RIN 1545-AX28


Exclusion of Gain From Sale or Exchange of a Principal Residence; 
Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction to notice of proposed rulemaking and notice of 
public hearing.

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SUMMARY: This document contains corrections to a notice of proposed 
rulemaking and notice of public hearing that was published in the 
Federal Register on Tuesday, October 10, 2000 (65 FR 60136) relating to 
the exclusion of gain from the sale or exchange of taxpayer's principal 
residence.

FOR FURTHER INFORMATION CONTACT: Sara P. Shepherd at (202) 622-4910 
(not a toll-free number).

SUPPLEMENTARY INFORMATION:

Background

    The notice of proposed rulemaking and notice of public hearing that 
is the subject of these corrections is under section 121 of the 
Internal Revenue Code.

Need for Correction

    As published, the notice of proposed rulemaking and notice of 
public hearing contains errors that may prove to be misleading and are 
in need of clarification.

Correction of Publication

    Accordingly, the publication of the notice of proposed rulemaking 
and notice of public hearing (REG-105235-99), that was the subject of 
FR Doc. 00-25482, is corrected as follows:


Sec. 1.121-1  [Corrected]

    1. On page 60139, column 1, Sec. 1.121-1, paragraph (f), Example 9, 
third line from the bottom of the paragraph, the language ``$5,000 of 
which adjusted net capital gain). J'' is corrected to read ``$5,000 of 
which is adjusted net capital gain). J''.


Sec. 1.121-2  [Corrected]

    2. On page 60139, column 2, Sec. 1.121-2, paragraph (b)(3), Example 
1, line three, the language ``sale is $256,000. A and B meet the'' is 
corrected to read ``sale is $256,000. H and W meet the''.

Cynthia E. Grigsby,
Chief, Regulations Unit, Office of Special Counsel (Modernization and 
Strategic Planning).
[FR Doc. 01-5959 Filed 3-12-01; 8:45 am]
BILLING CODE 4830-01-P