[Federal Register Volume 68, Number 90 (Friday, May 9, 2003)]
[Rules and Regulations]
[Page 24880]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-11591]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 9048]


Guidance Under Section 1502; Suspension of Losses on Certain 
Stock Dispositions; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correcting amendment.

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SUMMARY: This document contains a correction to Treasury Decision 9048, 
which was published in the Federal Register on Friday, March 14, 2003 
(68 FR 12287) that redetermines the basis of stock of a subsidiary 
member or a consolidated group immediately prior to certain transfers 
of such stock and certain deconsolidations of a subsidiary member.

DATES: This correction is effective on March 14, 2003.

FOR FURTHER INFORMATION CONTACT: Aimee K. Meacham at (202) 622-7530 
(not a toll-free number).

SUPPLEMENTARY INFORMATION:

Background

    The final regulations that are the subject of this correction are 
under section 1502 of the Internal Revenue Code.

Need for Correction

    As published, TD 9048 contains an error which may prove to be 
misleading and is in need of clarification.

List of Subjects in 26 CFR Part 1

    Income taxes, Reporting and recordkeeping requirements.

Correction of Publication

0
Accordingly, 26 CFR Part 1 is corrected by making the following 
correcting amendment:

PART 1--INCOME TAXES

0
Paragraph 1. The authority citation for part 1 continues to read in 
part as follows:

    Authority: 26 U.S.C. 7805 * * *


Sec.  1.1502-35T  [Corrected]

0
Par. 2. Section 1.1502-35T(b)(2)(ii)(B) is amended by removing the word 
``or'' at the end of the paragraph.

LaNita Van Dyke,
Acting Chief, Regulations Unit, Associate Chief Counsel, (Procedure and 
Administration).
[FR Doc. 03-11591 Filed 5-8-03; 8:45 am]
BILLING CODE 4830-01-P