§ 1.897-4AT. Table of contents (temporary).

§ 1.897-5T Corporate distributions (temporary).

(a) Purpose and scope.

(b) Distributions by domestic corporations.

(1) Limitation of basis upon dividend distribution of U.S. real property interest.

(2) Distributions by U.S. real property holding corporation under generally applicable rules.

(3) Section 332 liquidations of U.S. real property holding corporations.

(i) General rules.

(ii) Distribution to a foreign corporation under section 332 after June 18, 1980, and before the repeal of the General Utilities doctrine.

(iii) Distribution to a foreign corporation under section 332 and former section 334(b)(2) after June 18, 1980.

(iv) Distribution to a foreign corporation under section 332(a) after July 31, 1986 and after the repeal of the General Utilities doctrine.

(A) Liquidation of domestic corporation.

(B) Liquidation of certain foreign corporations making a section 897(i) election.

(v) Transfer of foreign corporation stock followed by a section 332 liquidation treated as a reorganization.

(4) Section 897(i) companies.

(5) Examples.

(6) Section 333 elections.

(i) General rule.

(ii) Example.

(c) Distributions of U.S. real property interests by foreign corporations.

(1) Recognition of gain required.

(2) Recognition of gain not required.

(i) Statutory exception.

(ii) Section 332 liquidations.

(A) In general.

(B) Recognition of gain required in certain section 332 liquidations.

(iii) Examples.

(3) Limitation of gain recognized under paragraph (c)(1) of this section for certain section 355 distributions.

(i) In general.

(ii) Example.

(4) Distribution by a foreign corporation in certain reorganizations.

(i) In general.

(ii) Statutory exception.

(iii) Regulatory limitation on gain recognized.

(iv) Examples.

(5) Sales of U.S. real property interests by foreign corporations under section 337.

(6) Section 897(l) credit.

(7) Other applicable rules.

(d) Rules of general application.

(1) Interests subject to taxation upon later dispositions.

(i) In general.

(ii) Effects of income tax treaties.

(A) Effect of treaty exemption from tax.

(B) Effect of treaty reduction of tax.

(C) Waiver of treaty benefits to preserve nonrecognition.

(iii) Procedural requirements.

(2) Treaty exception to imposition of tax.

(3) Withholding.

(4) Effect on earnings and profits.

(e) Effective date.

§ 1.897-6T Nonrecognition exchanges applicable to corporations their shareholders, and other taxpayers, and certain transfers of property in corporate reorganizations (temporary).

(a) Nonrecognition exchanges.

(1) In general.

(2) Definition of nonrecognition provision.

(3) Consequence of nonapplication of nonrecognition provisions.

(4) Section 355 distributions treated as exchanges.

(5) Section 1034 rollover of gain.

(i) Purchase of foreign principal residence.

(ii) Purchase of U.S. principal residence.

(6) Determination of basis.

(7) Examples.

(8) Treatment of nonqualifying property.

(i) In general.

(ii) Treatment of mixed exchanges.

(A) Allocation of nonqualifying property.

(B) Recognition of gain.

(C) Treatment of other amounts.

(iii) Example.

(9) Treaty exception to imposition of tax.

(b) Certain foreign to foreign exchanges.

(1) Exceptions to the general rule.

(2) Applicability of exception.

(3) No exceptions.

(4) Examples.

(5) Contribution of property.

(c) Denial of nonrecognition with respect to certain tax avoidance transfers.

(1) In general.

(2) Certain transfers to domestic corporations.

(i) General rule.

(ii) Example.

(3) Basis adjustment for certain related person transactions.

(4) Rearrangement of ownership to gain treaty benefit.

(d) Effective date.

§ 1.897-7T Treatment of certain partnership interests as entirely U.S. real property interests under section 897(g) (temporary).

(a) Rule.

(b) Effective date.

§ 1.897-8T Status as a U.S. real property holding corporation as a condition for electing section 897(i) pursuant to § 1.897-3 (temporary).

(a) Purpose and scope.

(b) General conditions.

(c) Effective date.

§ 1.897-9T Treatment of certain interests in publicly traded corporations, definition of foreign person, and foreign governments and international organizations (temporary).

(a) Purpose and scope.

(b)

(c) Foreign person.

(d) Regularly traded.

(e) Foreign governments and international organizations.

(f) Effective date.