28-percent rate gain

(4) 28-percent rate gain For purposes of this subsection, the term “28-percent rate gain” means the excess (if any) of— (A) the sum of— (i) collectibles gain; and (ii) section 1202 gain, over (B) the sum of— (i) collectibles loss; (ii) the net short-term capital loss; and (iii) the amount of long-term capital loss carried under section 1212(b)(1)(B) to the taxable year.


26 USC § 1(h)(4)

Scoping language

For purposes of this subsection
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