Treasury Regulations (26 C.F.R.)
26 CFR § 1.987-6T
Character and source of section 987 gain or loss (temporary).
(a) through (b)(3) [Reserved] For further guidance, see § 1.987-6(a) through (b)(3).
(4) Source of section 987 gain or loss with respect to a dollar QBU. The source of section 987 gain or loss with respect to a dollar QBU (as defined in § 1.987-1T(b)(6)(i)) for which the CFC owner has elected under § 1.987-1T(b)(6)(iii) to apply section 987 is determined by reference to the residence of the CFC owner. This paragraph (b)(4) applies to any CFC that has made the election under § 1.987-1T(b)(6)(iii), including a CFC described in § 1.987-1(b)(1)(ii).
(c) [Reserved] For further guidance, see § 1.987-6(c).
(d) Effective/applicability date. This section applies to taxable years beginning on or after one year after the first day of the first taxable year following December 7, 2016. Notwithstanding the preceding sentence, if a taxpayer makes an election under § 1.987-11(b), then this section applies to taxable years to which §§ 1.987-1 through 1.987-10 apply as a result of such election.
(e) Expiration date. The applicability of this section expires on December 6, 2019.
[T.D. 9795, 81 FR 88874, Dec. 8, 2016]
Source: view the official text
In this part (40 sections)
- 1.981-3 · Definitions and other special rules.
- 1.985-0 · Outline of regulation.
- 1.985-1 · Functional currency.
- 1.985-2 · Election to use the United States dollar as the functional…
- 1.985-3 · United States dollar approximate separate transactions method.
- 1.985-4 · Method of accounting.
- 1.985-5 · Adjustments required upon change in functional currency.
- 1.985-6 · Transition rules for a QBU that uses the dollar approximate…
- 1.985-7 · Adjustments required in connection with a change to DASTM.
- 1.985-8 · Special rules applicable to the European Monetary Union…
- 1.986(a)-1 · (a)-1 Translation of foreign income taxes for purposes of…
- 1.986(c)-1 · (c)-1 Coordination with section 965.
- 1.987-0 · Table of contents.
- 1.987-1 · Scope, definitions, and special rules.
- 1.987-2 · Attribution of items to eligible QBUs; definition of a…
- 1.987-3 · Determination of section 987 taxable income or loss of an…
- 1.987-3T · Determination of section 987 taxable income or loss of an…
- 1.987-4 · Determination of net unrecognized section 987 gain or loss of…
- 1.987-5 · Recognition of section 987 gain or loss.
- 1.987-6 · Character and source of section 987 gain or loss.
- 1.987-6T · Character and source of section 987 gain or loss (temporary).
- 1.987-7 · Application of the section 987 regulations to partnerships…
- 1.987-8 · Termination of a section 987 QBU.
- 1.987-8T · Termination of a section 987 QBU (temporary).
- 1.987-9 · Recordkeeping requirements.
- 1.987-10 · Transition rules.
- 1.987-11 · Suspended section 987 loss relating to certain elections;…
- 1.987-12 · Deferral of section 987 gain or loss.
- 1.987-13 · Suspended section 987 loss upon terminations.
- 1.987-14 · Section 987 hedging transactions.
- 1.987-15 · Applicability date.
- 1.988-0 · Taxation of gain or loss from a section 988 transaction;…
- 1.988-1 · Certain definitions and special rules.
- 1.988-1T · Certain definitions and special rules (temporary).
- 1.988-2 · Recognition and computation of exchange gain or loss.
- 1.988-2T · Recognition and computation of exchange gain or loss…
- 1.988-3 · Character of exchange gain or loss.
- 1.988-4 · Source of gain or loss realized on a section 988 transaction.
- 1.988-5 · Section 988(d) hedging transactions.
- 1.988-6 · Nonfunctional currency contingent payment debt instruments.