26 U.S. Code § 1258 - Recharacterization of gain from certain financial transactions
The term “applicable straddle” means any straddle (within the meaning of section 1092(c)).
For purposes of subparagraph (A), the term “built-in loss” means the loss (if any) which would have been realized if the position had been disposed of or otherwise terminated at its fair market value as of the time such position became part of the conversion transaction.
The term “options dealer” has the meaning given such term by section 1256(g)(8).
The term “commodities trader” means any person who is a member (or, except as otherwise provided in regulations, is entitled to trade as a member) of a domestic board of trade which is designated as a contract market by the Commodity Futures Trading Commission.
 See References in Text note below.
2004—Subsec. (d)(1). Pub. L. 108–357 struck out “; except that the term ‘personal property’ shall include stock” before period at end.
Written determinations for this section
These documents, sometimes referred to as "Private Letter Rulings", are taken from the IRS Written Determinations page; the IRS also publishes a fuller explanation of what they are and what they mean. The collection is updated (at our end) daily. It appears that the IRS updates their listing every Friday.
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- Activities to Which Section Applies : 2015-01-02
- Recharacterization of Gain from Certain Transactions : 2015-01-02
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