26 U.S. Code § 453C - Repealed. Pub. L. 100–203, title X, § 10202(a)(1), Dec. 22, 1987, 101 Stat. 1330–388]
Section, added Pub. L. 99–514, title VIII, § 811(a), Oct. 22, 1986, 100 Stat. 2365; amended Pub. L. 100–647, title I, § 1008(f)(1)–(5), Nov. 10, 1988, 102 Stat. 3441, 3442, related to treatment of certain indebtedness as payment on installment obligations.
Repeal applicable to dispositions in taxable years beginning after Dec. 31, 1987, with special rules for dealers and non-dealers, and coordination with Tax Reform Act of 1986, see section 10202(e)(1)–(3), (5) of Pub. L. 100–203, set out as a note under section 453 of this title.
Pub. L. 99–514, title VIII, § 811(c), Oct. 22, 1986, 100 Stat. 2368, as amended by Pub. L. 100–647, title I, § 1008(f)(6)–(8), Nov. 10, 1988, 102 Stat. 3442; Pub. L. 105–34, title X, § 1088(a), Aug. 5, 1997, 111 Stat. 959, provided that:
[“(1) In general.—The amendment made by this section [amending section 811(c) of Pub. L. 99–514, set out above] shall apply to taxable years beginning more than 1 year after the date of the enactment of this Act [Aug. 5, 1997].
[“(A) such changes shall be treated as initiated by the taxpayer,
[“(B) such changes shall be treated as made with the consent of the Secretary of the Treasury, and
[“(C) the net amount of the adjustments required to be taken into account under section 481(a) of the Internal Revenue Code of 1986 shall be taken into account ratably over the 4 taxable year period beginning with the first taxable year beginning more than 1 year after the date of the enactment of this Act.”]
Written determinations for this section
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