TD 9048; 9254 - Guidance under Section 1502; Suspension of Losses on Certain Stock Disposition (REG-131478-02)

ICR 201208-1545-030

OMB: 1545-1828

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2012-09-18
Supplementary Document
2009-06-01
ICR Details
1545-1828 201208-1545-030
Historical Active 200905-1545-031
TREAS/IRS jg-1828-030
TD 9048; 9254 - Guidance under Section 1502; Suspension of Losses on Certain Stock Disposition (REG-131478-02)
Extension without change of a currently approved collection   No
Regular
Approved without change 11/01/2012
Retrieve Notice of Action (NOA) 09/18/2012
  Inventory as of this Action Requested Previously Approved
11/30/2015 36 Months From Approved 10/31/2012
7,500 0 7,500
15,000 0 15,000
0 0 0

The information in Sec. 1.1502-35(c) is necessary to ensure that a consolidated group does not obtain more than one tax benefit from both the utilization of a loss from the disposition of stock and the utilization of a loss or deduction with respect to another asset that reflects the same economic loss; to allow the taxpayer to make an election under Sec. 1.1502-35(c)(5) that would benefit the taxpayer, the election in Sec. 1.1502-35(f) provides taxpayers the choice in the case of a worthless subsidiary to utilize a worthless stock deduction or absorb the subsidiary's losses; and Sec. 1.1502-35(g)(3) applies to ensure that taxpayers do not circumvent the loss suspension rule of §1.1502-35(c) by deconsolidating a subsidiary and then re-importing to the group losses of such subsidiary.

US Code: 26 USC 1502 Name of Law: SPECIAL RULE FOR DISPOSITION OF STOCK OF SUBSIDIARY
  
None

Not associated with rulemaking

  77 FR 20885 04/06/2012
77 FR 57189 09/17/2012
No

1
IC Title Form No. Form Name
REG-131478-02 (TD 9048; 9254) Guidance Under Section 1502; Suspension of Losses on Certain Stock Disposition

  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 7,500 7,500 0 0 0 0
Annual Time Burden (Hours) 15,000 15,000 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No

$0
No
No
No
No
No
Uncollected
Lewis Brickates 2026227700

  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.
09/18/2012


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