Internal Revenue Bulletin:  2008-12 

March 24, 2008 


Table of Contents

Notice 2008-34 Notice 2008-34

This notice identifies a transaction in which a tax indifferent party contributes one or more distressed assets with a high basis and low fair market value to a trust or series of trusts and sub-trusts, and a U.S. taxpayer acquires an interest in the trust (and/or series of trusts and/or sub-trusts) for the purpose of shifting a built-in loss from the tax indifferent party to the U.S. taxpayer that has not incurred the economic loss.

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