closing transaction

(2) Definitions For purposes of this subsection— (A) Closing transaction The term “closing transaction” means any termination of the taxpayer’s obligation under an option in property other than through the exercise or lapse of the option. (B) Property The term “property” means stocks and securities (including stocks and securities dealt with on a “when issued” basis), commodities, and commodity futures.


26 USC § 1234(b)(2)

Scoping language

For purposes of this subsection
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