item arises under any other contract or position but only to the extent that such item reflects (or is determined by reference to) changes in the value of such stock or distributions thereon. Such term shall not include any deduction with respect to which section 83(h) applies and shall not include any deduction for any item which is in the nature of compensation for services rendered. For purposes of this subparagraph, de minimis relationships, as determined by the Secretary, shall be disregarded. (d) Coordination with derivative and straddle rules In the case of a derivative or other contract or position described in subsection (c) which is held by a corporation with respect to its stock— (1) this section (rather than part IV of subchapter E or section 1092) shall apply in determining the treatment of section 1032 derivative items under this subtitle, and (2) such derivative or other contract or position shall not be taken into account in determining whether the corporation has an investment hedging unit, applicable property interest, or straddle with respect to its stock for purposes of such part or section. (e) Regulations The Secretary shall prescribe such regulations or other guidance as may be appropriate to carry out the purposes of this section, including regulations or other guidance which treat the portion of an instrument which is described in subsection (c)(1) separately from the portion of such instrument which is not so described. (f) Basis For basis of property acquired by a corporation in certain exchanges for its stock, see section 362. . (2) Clerical amendment The item relating to section 1032 in the table of sections for part III of subchapter O of chapter 1 is amended to read as follows: Sec. 1032. Transactions by a corporation with respect to its stock. . (3) Effective date The amendments made by this subsection shall apply to transactions entered into after the date of the enactment of this Act. 4. Technical and conforming amendments (a) Repeal of certain other superceded rules for