26 U.S.C. § 1287 — Denial of capital gain treatment for gains on certain obligations not in registered form

submitted 42 years ago by Pub. L. 98-369 to r/title-26-INTERNAL-REVENUE-CODE · 83 words · no verdicts yet

in plain englishAI-generated · not legal advice

This section sets rules about denial of capital gain treatment for gains on certain obligations not in registered form. It states the duties, permissions, limits, definitions, funding rules, or penalties that apply under the provisions below.

(a) In general If any registration-required obligation is not in registered form, any gain on the sale or other disposition of such obligation must be treated as ordinary income (unless the issuance of such obligation was subject to tax under section 4701). (b) Definitions For purposes of subsection (a)— (1) Registration-required obligation The term “registration-required obligation” has the meaning given to such term by section 163(f)(2). (2) Registered form The term “registered form” has the same meaning as when used in section 163(f).

the actual law source: uscode.house.gov ↗public domain

(a) In general

If any registration-required obligation is not in registered form, any gain on the sale or other disposition of such obligation shall be treated as ordinary income (unless the issuance of such obligation was subject to tax under section 4701).

(b) Definitions

For purposes of subsection (a)—

(1) Registration-required obligation

The term “registration-required obligation” has the meaning given to such term by section 163(f)(2).

(2) Registered form

The term “registered form” has the same meaning as when used in section 163(f).

Source credit: (Added Pub. L. 98–369, div. A, title I, § 41(a), July 18, 1984, 98 Stat. 552; amended Pub. L. 111–147, title V, § 502(a)(2)(D), Mar. 18, 2010, 124 Stat. 107.)

history & why it existsrecord from the source credit

1984Enacted · Pub. L. 98-369 · 98 Stat. 552
2010Amended · Pub. L. 111-147 · 124 Stat. 107

A history note hasn’t been published yet. The record shows enactment by Pub. L. 98-369 on 1984-07-18.

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