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Announcement 2004-10

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Internal Revenue Bulletin:

2004-7 February 17, 2004

Announcement 2004-10

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



Internal Revenue Service (IRS), Treasury.


Correction to final and temporary regulations.


This document corrects final and temporary regulations (T.D. 9048, 2003-1 C.B. 644 [68 FR 12287]) published in the Federal Register on March 14, 2003. 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.


This document is effective on March 14, 2003.


Aimee K. Meacham, (202) 622-7530 (not a toll-free number).



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

Correction of Publication

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

§ 1.1502-35T [Corrected]

1. On page 12294, column 1, § 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).


(Filed by the Office of the Federal Register on January 12, 2004, 8:45 a.m., and published in the issue of the Federal Register for January 13, 2004, 69 F.R. 1918)

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