Source: http://taxtv.com/code/00770-USCODE-2011-title26-subtitleA-chap1-subchapP-partIV-sec1259/
Timestamp: 2017-06-27 20:43:11
Document Index: 770300397

Matched Legal Cases: ['§1259', '§1259', '§1259', '§1001', '§6010', '§406', '§406', '§406', '§406', '§406', '§406', '§406', '§406', '§406', '§6010', '§6010', '§1259']

IRC §1259. Constructive sales treatment for appreciated financial positions - TaxTV.com
IRC §1259. Constructive sales treatment for appreciated financial positions
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If there is a constructive sale of an appreciated financial position—
The term “appreciated financial position” shall not include—
A taxpayer shall be treated as having made a constructive sale of an appreciated financial position if the taxpayer (or a related person)—
In applying this section, there shall be disregarded any transaction (which would otherwise cause a constructive sale) during the taxable year if—
(iii) at no time during such 60-day period is the taxpayer’s risk of loss with respect to such position reduced by reason of a circumstance which would be described in section 246(c)(4) if references to stock included references to such position.
A person is related to another person with respect to a transaction if—
The term “offsetting notional principal contract” means, with respect to any property, an agreement which includes—
(Added Pub. L. 105–34, title X, §1001(a), Aug. 5, 1997, 111 Stat. 903; amended Pub. L. 105–206, title VI, §6010(a)(1), (2), July 22, 1998, 112 Stat. 812, 813; Pub. L. 108–311, title IV, §406(e), Oct. 4, 2004, 118 Stat. 1189.)
2004—Subsec. (c)(2). Pub. L. 108–311, §406(e)(1), substituted “A taxpayer shall not be treated as having made a constructive sale solely because the taxpayer enters into a contract” for “The term ‘constructive sale’ shall not include any contract”.
Subsec. (c)(3)(A). Pub. L. 108–311, §406(e)(2), substituted “cause a constructive sale” for “be treated as a constructive sale” in introductory provisions.
Subsec. (c)(3)(A)(i). Pub. L. 108–311, §406(e)(3), substituted “on or before” for “before the end of”.
Subsec. (c)(3)(B). Pub. L. 108–311, §406(e)(7), substituted “certain closed transactions where risk of loss on appreciated financial position diminished” for “positions which are reestablished” in heading.
Subsec. (c)(3)(B)(i). Pub. L. 108–311, §406(e)(2), substituted “cause a constructive sale” for “be treated as a constructive sale”.
Subsec. (c)(3)(B)(ii). Pub. L. 108–311, §406(e)(4), struck out “substantially similar” after “another” in introductory provisions.
Subsec. (c)(3)(B)(ii)(I). Pub. L. 108–311, §406(e)(5), amended subcl. (I) generally. Prior to amendment, subcl. (I) read as follows: “which also would otherwise be treated as a constructive sale of such position,”.
Subsec. (c)(3)(B)(ii)(II). Pub. L. 108–311, §406(e)(6), inserted “on or” before “before the 30th day”.
1998—Subsec. (b)(2)(A)(i) to (iii). Pub. L. 105–206, §6010(a)(1)(A), substituted “position” for “debt”.
Subsec. (d)(1). Pub. L. 105–206, §6010(a)(2), inserted “(including cash)” after “property”.
View related content: IRC §1259