SECTION 5. EFFECTIVE DATE
Internal Revenue Bulletin 2003-29 · 2026-10-03 edition · updated 2026-10-04 · United States
This revenue procedure is effective June 26, 2003.
DRAFTING INFORMATION
The principal author of this revenue procedure is Douglas Kim of the Office of Associate Chief Counsel (Passthroughs and Special Industries). For further information regarding this revenue procedure,
2003-29 I.R.B. 121 July 21, 2003
investment during the period of disposition.
.04 Work in Process . The fair market value of work in process should be based on the same factors used to determine the fair market value of finished goods reduced by the expected costs of completion, including a reasonable profit allowance for the completion and selling effort of the acquiring corporation.
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