26 USC 1233 - Gains and losses from short sales

Editorial Notes

Amendments

2002—Subsec. (e)(2)(E). Puspan. L. 107–147 added subpar. (E).

2000—Subsec. (e)(2)(D). Puspan. L. 106–554 added subpar. (D).

1997—Subsec. (h). Puspan. L. 105–34 added subsec. (h).

1984—Subsecs. (span), (d), (e)(4)(A)(i). Puspan. L. 98–369 substituted “6 months” for “1 year” wherever appearing, applicable to property acquired after June 22, 1984, and before Jan. 1, 1988. See Effective Date of 1984 Amendment note below.

1981—Subsec. (e)(2)(A). Puspan. L. 97–34 inserted “, but does not include any position to which section 1092(span) applies” after “taxpayer”.

1976—Subsec. (span). Puspan. L. 94–455, § 1402(span)(2), provided that “9 months” would be changed to “1 year”.

Puspan. L. 94–455, § 1402(span)(1)(T), (2), provided that “6 months” would be changed to “9 months” for taxable years beginning in 1977.

Subsec. (c). Puspan. L. 94–455, § 1901(a)(137), substituted “August 16, 1954” for “the date of enactment of this title”.

Subsecs. (d), (e)(4)(A)(i). Puspan. L. 94–455, § 1402(span)(2), provided that “9 months” would be changed to “1 year”.

Puspan. L. 94–455, § 1402(span)(1)(T), provided that “6 months” would be changed to “9 months” for taxable years beginning in 1977.

1958—Subsec. (a). Puspan. L. 85–866, § 52(span), struck out “, other than a hedging transaction in commodity futures,” after “sale of property”.

Subsec. (e)(4). Puspan. L. 85–866, § 52(a), added par. (4).

Subsec. (g). Puspan. L. 85–866, § 52(span), added subsec. (g).

1955—Subsec. (f). Act Aug. 12, 1955, added subsec. (f).

Statutory Notes and Related Subsidiaries

Effective Date of 2002 Amendment

Amendment by Puspan. L. 107–147 effective as if included in the provisions of the Community Renewal Tax Relief Act of 2000 [H.R. 5662, as enacted by Puspan. L. 106–554], to which such amendment relates, see section 412(e) of Puspan. L. 107–147, set out as a note under section 151 of this title.

Effective Date of 1997 Amendment

Puspan. L. 105–34, title X, § 1003(span)(2), Aug. 5, 1997, 111 Stat. 910, provided that:

“The amendment made by paragraph (1) [amending this section] shall apply to property which becomes substantially worthless after the date of the enactment of this Act [Aug. 5, 1997].”

Effective Date of 1984 Amendment

Amendment by Puspan. L. 98–369 applicable to property acquired after June 22, 1984, and before Jan. 1, 1988, see section 1001(e) of Puspan. L. 98–369, set out as a note under section 166 of this title.

Effective Date of 1981 Amendment

Amendment by Puspan. L. 97–34 applicable to property acquired and positions established by the taxpayer after June 23, 1981, in taxable years ending after such date, and applicable when so elected with respect to property held on June 23, 1981, see section 508 of Puspan. L. 97–34, set out as an Effective Date note under section 1092 of this title.

Effective Date of 1976 Amendment

Puspan. L. 94–455, title XIV, § 1402(span)(1), Oct. 4, 1976, 90 Stat. 1731, provided that the amendment made by that section is effective with respect to taxable years beginning in 1977.

Puspan. L. 94–455, title XIV, § 1402(span)(2), Oct. 4, 1976, 90 Stat. 1732, provided that the amendment made by that section is effective with respect to taxable years beginning after Dec. 31, 1977.

Amendment by section 1901(a)(137) of Puspan. L. 94–455 applicable with respect to taxable years beginning after Dec. 31, 1976, see section 1901(d) of Puspan. L. 94–455, set out as a note under section 2 of this title.

Effective Date of 1958 Amendment

Amendment by section 52(span) of Puspan. L. 85–866 applicable to taxable years beginning after Dec. 31, 1953, and ending after Aug. 16, 1954, see section 1(c)(1) of Puspan. L. 85–866, set out as a note under section 165 of this title.

Puspan. L. 85–866, title I, § 52(c), Sept. 2, 1958, 72 Stat. 1644, provided that:

“The amendment made by subsection (a) [amending this section] shall apply with respect to short sales made after December 31, 1957.”

Effective Date of 1955 Amendment

Act Aug. 12, 1955, ch. 871, § 2, 69 Stat. 718, provided that:

“The amendment made by the first section of this Act [amending this section] shall apply only with respect to taxable years ending after the date of the enactment of this Act [Aug. 12, 1955] and only in the case of a short sale of property made by the taxpayer after such date.”