APPENDIX F
Selected Provisions from the Explanation of the Technical and Miscellaneous Revenue Act of 1988
HOUSE WAYS AND MEANS COMMITTEE REPORT NO. 100-795, JULY 26, 1988 (“HOUSE COMMITTEE REPORT”)
SENATE FINANCE COMMITTEE REPORT NO. 100-445, AUGUST 3, 1988 (“SENATE COMMITTEE REPORT”)
JOINT COMMITTEE ON TAXATION EXPLANATION OF SENATE CONSENSUS AMENDMENT, JCX-28-88, SEPTEMBER 12, 1988
CONFERENCE COMMITTEE REPORT, STATEMENT OF THE MANAGERS, OCTOBER 24, 1988 (“CONFERENCE COMMITTEE REPORT”)
Special Limitations on Net Operating Loss and Other Carryforwards 2
Recognition of Gain or Loss on Liquidating Sales and Distributions of Property (General Utilities) 8
Joint Committee Explanation of Senate Consensus Amendment 15
House Committee Report 16
Conference Committee Report 18
Act Sec. 4012 and IRC § 382: Financial Institutions 19
Act Sec. 1004 and IRC § 108(G): Treatment of Discharge of Indebtedness Income of Certain Farmers 22
Act. Sec. 1018(D)(5) and IRC § 361: Earnings and Profits 23
ACT § 1006 AND FRC § 336, 368, AND 382 SENATE COMMITTEE REPORT
SPECIAL LIMITATIONS ON NET OPERATING LOSS AND OTHER CARRYFORWARDS
Value of Loss Corporation
In lieu of regulatory authority, the bill extends the statutory rules for redemptions to other corporate contractions. The rule for redemptions was intended to apply to transactions that effect similar economic results, without regard to formal differences in the structure used or the order of events by which similar consequences are achieved. Thus, ...
