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TD 9857: Recognition and Deferral of Section 987 Gain or Loss

Date: 2019-05-13
Links to Federal Register: HTML, PDF
Document Number: 2019-09552, RIN: 1545-BL11
Action: Final regulations and removal of temporary regulations.

Abstract: This document contains final regulations relating to combinations and separations of qualified business units (QBUs) subject to section 987 and the recognition and deferral of foreign currency gain or loss with respect to a QBU subject to section 987 in connection with certain QBU terminations and certain other transactions involving partnerships. In addition, this document withdraws temporary regulations regarding the allocation of assets and liabilities of certain partnerships for purposes of section 987. The final regulations affect taxpayers that own certain QBUs.

Word frequency
Notable phrases   Frequency
deferral event      48
outbound loss event      48
assets and liabilities      35
deferred section 987      25
deferral QBU owner      20
net unrecognized section 987 (gain|gain or loss|loss)      16
net accumulated unrecognized section 987 (gain|gain or loss|loss)      16
liquidation value percentage      12
principal purpose      9
foreign currency gain or loss      7
entity classification election      6

Reg. Cites   Frequency
1.987-5      34
1.987-12T      24
1.987-12      14
1.987-4T      13
1.987-2T      13
1.987-7T      10
1.987-1      9
301.7701-3      6
1.987-10      6
1.987-4      6
1.987-11      5
1.987-2      5
1.987-7      4
1.987-2(c)(9)(i)      3
1.987-4(c)(2)      3
1.987-2(c)(9)(iii)      3
1.987-2(c)      3
1.987-11(b)      3
1.987-8(b)(2)      3
1.987-2(c)(2)(ii)      3

Sec. Cites   Frequency
987      280
351      4
987(3)      4
267(b)      3
988      3

Authorities Referenced:


Statistics

Number of pages: 12, words: 13,128, sentences: 407
Average words per sentence: 32