Taxable Income or Loss and Currency Gain or Loss With Respect to a Qualified Business Unit
other · IRS · Rule · Published 2024-12-11 · Effective 2024-12-10 · 89 FR 100138
Document
Document number
2024-28372
Federal Register citation
89 FR 100138
CFR reference
26 CFR 1
Type
Rule
Action
Final rule.
Category
other
Sub-agency
IRS
Publication date
2024-12-11
Effective date
2024-12-10
Treasury docket
TD 10016
Abstract
This document contains final regulations relating to the determination of taxable income or loss and foreign currency gain or loss with respect to a qualified business unit. These final regulations include an election to treat all items of a qualified business unit as marked items (subject to a loss suspension rule), an election to recognize all foreign currency gain or loss with respect to a qualified business unit on an annual basis, and a new transition rule.