# Prop. Treas. Reg. § 1.863-7: Allocation of income attributable to certain notional  principal contracts under section 863(a).

Proposed regulation, not in force. REG-208299-90, 63 FR 11177, published 1998-03-06 <https://www.federalregister.gov/documents/1998/03/06/98-5674/allocation-and-sourcing-of-income-and-deductions-among-taxpayers-engaged-in-a-global-dealing>. Interprets 26 U.S.C. § 863.

Par. 8. Section 1.863-7(a)(1) is amended by revising the second sentence to read as follows:

(a) Scope--(1) Introduction. * * * This section does not apply to income from a section 988 transaction (as defined in section 988(c) and Sec. 1.988-1(a)), or to income from a global dealing operation (as defined in Sec. 1.482-8(a)(2)(i)) that is sourced under the rules of Sec. 1.863-3(h). * * *

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