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TREAS/IRS RIN: 1545-BG61 Publication ID: Spring 2011 
Title: Stripped Interests in Bond and Preferred Stock Funds 
Abstract: The proposed regulations provide guidance to taxpayers about the proper treatment of stripped interests in accounts or entities in which substantially all the assets consist of bonds, preferred stock, or a combination thereof. Under the proposed regulations, basis will be allocated among the stripped interests based upon relative fair market value. The proposed regulations also provide rules requiring current recognition of income and basis adjustments by all holders of stripped interests. 
Agency: Department of the Treasury(TREAS)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: No  Unfunded Mandates: Undetermined 
CFR Citation: 26 CFR 1   
Legal Authority: 26 USC 1286(f)-1 to 6 (new)    26 USC 7805   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  12/00/2011    
Additional Information: REG-116402-07 Drafting attorney: Pamela Lew (202) 622-3950 Reviewing attorney: Christina A. Morrison (202) 622-8424 Treasury attorney: Mark Smith (202) 622-0180 CC: FIP
Regulatory Flexibility Analysis Required: Undetermined  Government Levels Affected: None 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Pamela Lew
Department of the Treasury
Internal Revenue Service
1111 Constitution Avenue NW., Room 3547,
Washington, DC 20224
Phone:202 317-7053
Fax:855 574-9024
Email: pamela.lew@irscounsel.treas.gov