[Federal Register Volume 69, Number 8 (Tuesday, January 13, 2004)]
[Rules and Regulations]
[Page 1918]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-710]



[[Page 1918]]

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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Parts 1 and 602

[TD 9048]
RIN 1545-BB95


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

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Corrections to final and temporary regulations.

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SUMMARY: This document corrects final and temporary regulations (TD 
9048) published in the Federal Register on March 14, 2003 (68 FR 
12287). The final and temporary regulations redetermine the basis of 
stock of a subsidiary member of a consolidated group immediately prior 
to certain transfers of such stock and certain deconsolidations of a 
subsidiary member and also suspend certain losses recognized on the 
disposition of stock of a subsidiary member.

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

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

SUPPLEMENTARY INFORMATION: 

Background

    The final and temporary regulations (TD 9048) that are the subject 
of these corrections are under section 1502 of the Internal Revenue 
Code.

Need for Correction

    As published, the final and temporary regulations (TD 9048) contain 
errors that may prove to be misleading and are in need of 
clarification. In particular, this document supplies text clarifying 
Sec.  1.1502-35T(c)(5)(i).

Correction of Publication

0
Accordingly, the publication of the final and temporary regulations (TD 
9048) that were the subject of FR Doc. 03-6119, is corrected as 
follows:


Sec.  1.1502-35T  [Corrected]

0
1. On page 12294, column 1, Sec.  1.1502-35T(c)(5)(i), line 8 from the 
bottom of the paragraph, the language ``subsidiary (or any successor) 
is not a'' is corrected to read ``subsidiary (and any successor) is not 
a''.

La Nita Van Dyke,
Acting Chief, Publications and Regulations Branch, Legal Processing 
Division, Associate Chief Counsel (Procedure and Administration).
[FR Doc. 04-710 Filed 1-12-04; 8:45 am]
BILLING CODE 4830-01-P