SEC. 1. PURPOSE

This revenue procedure tells taxpayers how to request consent to change methods of accounting to comply with elections out of certain exemptions from dealer status for purposes of § 475 of the Internal Revenue Code. See § 1.475(c)–1(a)(3) of the Income Tax Regulations (concerning taxpayers buying securities from or selling securities to members of the same consolidated group); § 1.475(c)–1(b) (concerning sellers of nonfinancial goods and services); and § 1.475(c)–1(c) (concerning taxpayers that engage in no more than negligible sales of securities).