97-6676. Consolidated ReturnsLimitations on the Use of Certain Losses and Deductions; Correction

[Federal Register Volume 62, Number 51 (Monday, March 17, 1997)]
[Rules and Regulations]
[Pages 12541-12542]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-6676]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 8677]
RIN 1545-AU35


Consolidated Returns--Limitations on the Use of Certain Losses 
and Deductions; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction to final and temporary regulations.

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SUMMARY: This document contains a correction to final and temporary 
regulations [TD 8677] which were published in the Federal Register on 
Thursday, June 27, 1996 (61 FR 33321). The final and temporary 
regulations relate to the deductions and losses of members and also to 
the carryover and carryback of losses to consolidated and separate 
return years and to the built-in deduction rules.

EFFECTIVE DATE: June 27, 1996.

FOR FURTHER INFORMATION CONTACT: Diana Fulton at [phone] (not a 
toll-free number).

SUPPLEMENTARY INFORMATION:

Background

    The final and temporary regulations that are the subject of this 
correction are under section 1502 of the Internal Revenue Code.

Need for Correction

    As published, the final and temporary regulations contain an error 
which may prove to be misleading and is in need of clarification.

Correction of Publication

    Accordingly, the publication of the final and temporary regulations 
[TD

[[Page 12542]]

8677] which are the subject of FR Doc. 96-15823 is corrected as 
follows:


Sec. 1.1502-13  [Corrected]

    On page 33323, the twentieth entry in the table is corrected to 
read as follows:

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                 Affected section                               Remove                          Add             
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*                  *                  *                  *                  *                  *                
                                                        *                                                       
1.1502-13(h)(2), Example 2(b).....................  1.1502-22(c)                   1.1502-22T                   
                                                                                                                
*                  *                  *                  *                  *                  *                
                                                        *                                                       
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Cynthia E. Grigsby,
Chief, Regulations Unit, Assistant Chief Counsel (Corporate).
[FR Doc. 97-6676 Filed 3-14-97; 8:45 am]
BILLING CODE 4830-01-U