Source: http://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section1091&num=0&edition=prelim
Timestamp: 2019-05-23 07:46:55
Document Index: 104437986

Matched Legal Cases: ['§ 1091', '§1906', '§106', '§5075', '§1', '§401', '§412', '§106', '§5075', '§106']

[USC02] 26 USC 1091: Loss from wash sales of stock or securities
<< Previous TITLE 26 / Subtitle A / CHAPTER 1 / Subchapter O / PART VII / § 1091 Next >>
26 USC 1091: Loss from wash sales of stock or securities Text contains those laws in effect on May 22, 2019
From Title 26-INTERNAL REVENUE CODESubtitle A-Income TaxesCHAPTER 1-NORMAL TAXES AND SURTAXESSubchapter O-Gain or Loss on Disposition of PropertyPART VII-WASH SALES; STRADDLES
Rules similar to the rules of subsection (a) shall apply to any loss realized on the closing of a short sale of (or the sale, exchange, or termination of a securities futures contract to sell) stock or securities if, within a period beginning 30 days before the date of such closing and ending 30 days after such date-
(Aug. 16, 1954, ch. 736, 68A Stat. 319 ; Pub. L. 94–455, title XIX, §1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1834 ; Pub. L. 98–369, div. A, title I, §106(a), (b), July 18, 1984, 98 Stat. 629 ; Pub. L. 100–647, title V, §5075(a), Nov. 10, 1988, 102 Stat. 3682 ; Pub. L. 106–554, §1(a)(7) [title IV, §401(d)], Dec. 21, 2000, 114 Stat. 2763 , 2763A-649; Pub. L. 107–147, title IV, §412(d)(2), Mar. 9, 2002, 116 Stat. 53 .)
2002-Subsec. (e). Pub. L. 107–147 substituted "securities and securities futures contracts to sell" for "securities" in heading, inserted "(or the sale, exchange, or termination of a securities futures contract to sell)" after "closing of a short sale of" in introductory provisions and "(or securities futures contracts to sell)" after "short sale of" in par. (2), and inserted concluding provisions.
1988-Subsec. (a). Pub. L. 100–647 inserted sentence at end defining "stock or securities".
1984-Subsec. (a). Pub. L. 98–369, §106(b), substituted "no deduction shall be allowed under section 165 unless the taxpayer is a dealer in stock or securities and the loss is sustained in a transaction made in the ordinary course of such business" for "no deduction for the loss shall be allowed under section 165(c)(2); nor shall such deduction be allowed a corporation under section 165(a) unless it is a dealer in stocks or securities, and the loss is sustained in a transaction made in the ordinary course of business".
Pub. L. 100–647, title V, §5075(b), Nov. 10, 1988, 102 Stat. 3682 , provided that: "The amendment made by subsection (a) [amending this section] shall apply with respect to any sale after the date of enactment of this Act [Nov. 10, 1988], in taxable years ending after such date."
Pub. L. 98–369, div. A, title I, §106(c), July 18, 1984, 98 Stat. 629 , provided that:
"(1) Subsection (a).-The amendment made by subsection (a) [amending this section] shall apply to short sales of stock or securities after the date of the enactment of this Act [July 18, 1984] in taxable years ending after such date.
"(2) Subsection (b).-The amendment made by subsection (b) [amending this section] shall apply to sales after December 31, 1984, in taxable years ending after such date."