CFR > Title 26 - Internal Revenue > CHAPTER I—INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY > SUBCHAPTER A—INCOME TAX (Parts 1–19) > PART 1—INCOME TAXES > 1.1248-1T—Treatment of gain from certain sales or exchanges of stock in certain foreign corporations (temporary).

1.1248-1T—Treatment of gain from certain sales or exchanges of stock in certain foreign corporations (temporary).

(a) [Reserved] For further guidance, see § 1.1248-1(a).
(b) Sale or exchange. For purposes of section 1248(a), the term sale or exchange includes the receipt of a distribution which is treated as in exchange for stock under section 302(a) (relating to distributions in redemption of stock), section 331(a)(1) (relating to distributions in complete liquidation of a corporation), or section 331(a)(2) (relating to distributions in partial liquidation of a corporation). For purposes of section 1248(a), gain recognized by a shareholder under section 301(c)(3) in connection with a distribution of property by a corporation with respect to its stock shall be treated as gain from the sale or exchange of stock of such corporation.
(c) through (f) [Reserved] For further guidance, see § 1.1248-1(c) through (f).
(g) Effective/applicability dates. (1) [Reserved] For further guidance, see § 1.1248-1(g)(1).
(2) Paragraph (b) of this section applies to distributions that occur on or after February 10, 2009.
(h) Expiration date. This section expires on or before February 10, 2012.

Code of Federal Regulations

[T.D. 9444, 74 FR 6828, Feb. 11, 2009]