{"abstract":"This document contains final regulations relating to the determination of taxable income or loss and foreign currency gain or loss with respect to a qualified business unit. These final regulations include an election to treat all items of a qualified business unit as marked items (subject to a loss suspension rule), an election to recognize all foreign currency gain or loss with respect to a qualified business unit on an annual basis, and a new transition rule.","action":"Final rule.","agencies":[{"raw_name":"DEPARTMENT OF THE TREASURY","name":"Treasury Department","id":497,"url":"https://www.federalregister.gov/agencies/treasury-department","json_url":"https://www.federalregister.gov/api/v1/agencies/497","parent_id":null,"slug":"treasury-department"},{"raw_name":"Internal Revenue Service","name":"Internal Revenue Service","id":254,"url":"https://www.federalregister.gov/agencies/internal-revenue-service","json_url":"https://www.federalregister.gov/api/v1/agencies/254","parent_id":497,"slug":"internal-revenue-service"}],"body_html_url":"https://www.federalregister.gov/documents/full_text/html/2024/12/11/2024-28372.html","cfr_references":[{"chapter":null,"citation_url":null,"part":"1","title":26}],"citation":"89 FR 100138","comment_url":null,"comments_close_on":null,"correction_of":null,"corrections":[],"dates":"Effective date: The final regulations are effective December 10, 2024.","disposition_notes":null,"docket_ids":["TD 10016"],"dockets":[{"supporting_documents":[],"agency_name":"IRS","documents":[{"comment_count":0,"comment_start_date":"2024-12-11","updated_at":"2024-12-11T10:57:12.843-05:00","comment_url":"https://www.regulations.gov/commenton/IRS-2023-0052-0015","allow_late_comments":false,"id":"IRS-2023-0052-0015","comment_end_date":null,"regulations_dot_gov_open_for_comment":false}],"supporting_documents_count":0,"id":"IRS-2023-0052","title":"Income and Currency Gain or Loss With Respect to a Qualified Business Unit (REG-132422-17)"}],"document_number":"2024-28372","effective_on":"2024-12-10","end_page":100226,"executive_order_notes":null,"executive_order_number":null,"full_text_xml_url":"https://www.federalregister.gov/documents/full_text/xml/2024/12/11/2024-28372.xml","html_url":"https://www.federalregister.gov/documents/2024/12/11/2024-28372/taxable-income-or-loss-and-currency-gain-or-loss-with-respect-to-a-qualified-business-unit","images":{},"images_metadata":{},"json_url":"https://www.federalregister.gov/api/v1/documents/2024-28372?publication_date=2024-12-11","mods_url":"https://www.govinfo.gov/metadata/granule/FR-2024-12-11/2024-28372/mods.xml","not_received_for_publication":null,"page_length":89,"page_views":{"count":4556,"last_updated":"2026-10-23 08:15:04 -0400"},"pdf_url":"https://www.govinfo.gov/content/pkg/FR-2024-12-11/pdf/2024-28372.pdf","presidential_document_number":null,"proclamation_number":null,"public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2024-28372.pdf?1733838315","publication_date":"2024-12-11","raw_text_url":"https://www.federalregister.gov/documents/full_text/text/2024/12/11/2024-28372.txt","regulation_id_number_info":{"1545-BO07":{"issue":"202504","html_url":"https://www.federalregister.gov/regulations/1545-BO07/modification-of-regulations-under-section-987-on-income-and-currency-gain-or-loss-with-respect-to-a-","title":"Modification of Regulations Under Section 987 on Income and Currency Gain or Loss With Respect to a Section 987 Qualified Business Unit","xml_url":"http://www.reginfo.gov/public/do/eAgendaViewRule?pubId=202504&RIN=1545-BO07&operation=OPERATION_EXPORT_XML","priority_category":"Substantive, Nonsignificant"}},"regulation_id_numbers":["1545-BO07"],"regulations_dot_gov_info":{"supporting_documents":[],"regulatory_plan":{"html_url":"https://www.federalregister.gov/regulations/1545-BO07/modification-of-regulations-under-section-987-on-income-and-currency-gain-or-loss-with-respect-to-a-","title":"Modification of Regulations Under Section 987 on Income and Currency Gain or Loss With Respect to a Section 987 Qualified Business Unit"},"comments_count":0,"agency_id":"IRS","comments_url":"https://www.regulations.gov/docketBrowser?rpp=50&so=DESC&sb=postedDate&po=0&dct=PS&D=IRS-2023-0052","supporting_documents_count":0,"docket_id":"IRS-2023-0052","document_id":"IRS-2023-0052-0015","regulation_id_number":"1545-BO07","title":"Income and Currency Gain or Loss With Respect to a Qualified Business Unit (REG-132422-17)","checked_regulationsdotgov_at":"2024-12-12T15:00:07Z"},"regulations_dot_gov_url":null,"significant":false,"signing_date":null,"start_page":100138,"subtype":null,"title":"Taxable Income or Loss and Currency Gain or Loss With Respect to a Qualified Business Unit","toc_doc":"Taxable Income or Loss and Currency Gain or Loss with Respect to a Qualified Business Unit","toc_subject":null,"topics":["Income taxes","Reporting and recordkeeping requirements"],"type":"Rule","volume":89}