Final regulations under section 1221(b)(3) of the Code provide the time and manner rules for electing to treat the sale or exchange of a musical composition or a copyright in a musical work created by the taxpayer (or received by the taxpayer from the composition or work’s creator in a transferred basis transaction) as the sale or exchange of a capital asset.

This announcement advises the public that expenses for breast pumps and supplies that assist lactation may be deducted as medical expenses or reimbursed under a flexible spending arrangement or similar plan.