Data / Federal rules / 2024-28372
Taxable Income or Loss and Currency Gain or Loss With Respect to a Qualified Business Unit
The Internal Revenue Service published this final rule in the Federal Register on December 11, 2024. It took effect on December 10, 2024.
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What the agency says
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.
Key facts
- Document number
- 2024-28372
- Type
- Final rule
- Action
- Final rule
- Agency
- Treasury Department; Internal Revenue Service
- Published
- December 11, 2024
- Takes effect
- December 10, 2024
- Dates
- Effective date: The final regulations are effective December 10, 2024.
- Docket
- TD 10016
- Regulation ID (RIN)
- 1545-BO07
- Code of Federal Regulations
- 26 CFR 1
- Topics
- Income taxes; Reporting and recordkeeping requirements
- Pages
- 89
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Everything from the Internal Revenue Service · Rules on income taxes · Rules on reporting and recordkeeping requirements · Published in December 2024
Read from the Federal Register API, last updated 2026-10-23. The document on federalregister.gov is the official record; dates and dockets can change through later corrections. Free to reuse with credit to SpecStream under CC BY 4.0.