REG-123305-02 (formerly REG-102305-02)(NPRM and Temporary Regulations); REG-102740-02 (NPRM and Temporary Regulations) Loss Limitation Rules

ICR 200206-1545-007

OMB: 1545-1774

Federal Form Document

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Document
Name
Status
No forms / supporting documents in this ICR. Check IC Document Collections.
ICR Details
1545-1774 200206-1545-007
Historical Active 200205-1545-032
TREAS/IRS
REG-123305-02 (formerly REG-102305-02)(NPRM and Temporary Regulations); REG-102740-02 (NPRM and Temporary Regulations) Loss Limitation Rules
Extension without change of a currently approved collection   No
Regular
Approved without change 07/16/2002
Retrieve Notice of Action (NOA) 06/04/2002
  Inventory as of this Action Requested Previously Approved
07/31/2005 07/31/2005 08/31/2002
15,000 0 15,000
30,000 0 30,000
0 0 0

The information is necessary to allow the taxpayer to make certain elections to determine the amount of allowable loss under Sec. 1.337(d)-2T, Sec. 1.1502-20 as currently in effect or under Sec. 1.1502-20 as modified; to allow the taxpayer to waive loss carryovers up to the amount of the Sec. 1.1502-20(g) election; and to ensure that loss is not disallowed under Sec. 1.337(d)-2T and basis is not reduced under Sec. 1.337(d)-2T to the extent the taxpayer establishes that the loss or basis is not attributable to the recognition of build in gain on the disposition of an asset.

None
None


No

  Total Approved Previously Approved Change Due to New Statute Change Due to Agency Discretion Change Due to Adjustment in Estimate Change Due to Potential Violation of the PRA
Annual Number of Responses 15,000 15,000 0 0 0 0
Annual Time Burden (Hours) 30,000 30,000 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No

$0
No
No
Uncollected
Uncollected
Uncollected
Uncollected

  No

On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
 
 
 
 
 
 
 
    (i) Why the information is being collected;
    (ii) Use of information;
    (iii) Burden estimate;
    (iv) Nature of response (voluntary, required for a benefit, or mandatory);
    (v) Nature and extent of confidentiality; and
    (vi) Need to display currently valid OMB control number;
 
 
 
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
06/04/2002


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