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News EssentialsIRS Resources | Issue Number: N-2013-48Inside This IssueNotice 2013-48 establishes a de minimis exception to the wash sale rules of § 1091 for certain redemptions of shares of money market funds that, under regulations proposed by the Securities and Exchange Commission, would no longer maintain a constant share price. Under the proposed revenue procedure, if a taxpayer realizes a loss upon a redemption of shares in such a fund, and the amount of the loss is not more than .5 percent of the taxpayer’s basis in the shares, the IRS will treat such loss as not subject to § 1091. Notice 2013-48, will be published in Internal Revenue Bulletin 2013-31 on July 29, 2013. Thank you for subscribing to IRS GuideWire, an IRS e-mail service. If you are a Tax Professional and have a specific concern about your tax situation, call the IRS Practitioner Priority Service 1-866-860-4259. This message was distributed automatically from the IRS GuideWire mailing list. Please Do Not Reply To This Message. |
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