Date: 2019-05-13
Links to Federal Register: HTML, PDF
(Proposed Regulation: REG-128276-12 / TD 9795 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.
| 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 |
Statistics
Number of pages: 12, words: 13,128, sentences: 407
Average words per sentence: 32