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Introduction

SECTION 1. PURPOSE

Internal Revenue Bulletin 2014-34 · 2026-10-03 edition · updated 2026-10-04 · United States

This revenue procedure describes the circumstances in which the Internal Revenue Service (Service) will not treat a redemption of shares in a money market fund (MMF) as part of a wash sale for purposes of section 1091 of the Internal Revenue Code. This revenue procedure responds to Securities and Exchange Commission (SEC) rules that change how certain MMF shares are priced. See Money Market Fund Reform; Amendments to Form PF, Securities Act Release No. 33–9616, Investment Advisers Act Release No. IA–3879, Investment Company Act Release No. IC–31166, Financial Reporting Codification No. FR–84 (SEC MMF Reform Rules). As described in section 2.03 of this revenue procedure, the Service previously published Notice 2013–48, 2013–31 I.R.B. 120, proposing a revenue procedure that would have excepted from the wash sale rules certain de minimis losses realized in redemptions of MMF shares. This revenue procedure includes revisions responding to comments received regarding that proposal.

August 18, 2014 388 Bulletin No. 2014–34

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▸Contents — Internal Revenue Bulletin 2014-34
Internal Revenue Bulletin 2014-34

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