Proposed loss importation regulations have broad scope

September 2013

Overview

Recently, the IRS and Treasury Department published proposed regulations for determining when the anti-loss importation provisions apply. They conclude that the provisions apply even if gain or loss would be recognized by someone other than the transferor on a hypothetical sale immediately before the transfer. For example, the proposed regulations apply the anti-loss importation provisions to a CFC’s transfer, even if that CFC’s sale of the property would result in a US shareholder’s subpart F inclusion.

Contact us

Doug McHoney
Co-leader, US Integrated Global Structuring team
Tel: +1 (312) 298 2527
Email

Calum Dewar
Co-leader, US Integrated Global Structuring team
Tel: +1 (646) 471 5254
Email

Follow us